Applying for a ship mortgage

Only a ship marked in the Transport Register as either a ship or a ship under construction may be mortgaged.

If the ship is owned by a limited company, an association or a foundation, include with the application the mortgage decision, which should be comprised of an extract from the minutes of the governing body which shows the decision to apply for a ship mortgage and recognises the bearer bond. The decision must mention the nature of the bond, the capital, the annual interest and any collection or renewal expenses, as well as giving details of the ship (ship name, type, and registration number).

The bearer bond (External link) must be provided in its original form. If you do not use the bearer bond form provided by Traficom, make sure that the bond contains all the same information as required in the Traficom form. The bond must be signed by two witnesses.

If the person signing the application and the bond does not have the right to sign on behalf of the company owning the ship, a letter of attorney is also required.

If the person signing the bond does not own the ship that is to be mortgaged, or if the bond is issued by only some of the ship owners marked in the Register, the consent of the ship’s (other) owners must be requested. This consent may be provided in the separate ‘owner’s consent’ section at the bottom of the bond. Alternatively, consent for the mortgage can be provided in a separate document.

Make sure that you have selected whether you wish to order an encumbrance certificate for after the mortgage has been confirmed, and give the language which you would like the certificate to be provided in. The language options for this certificate are Finnish, Swedish and English. 

Send the documents to the address on the application form.