The Association of Brokers and Yacht Agents (ABYA) is keen to point out that qualified yacht brokers carry out a professional service for people wishing to buy yachts.

They counter the claims made by the RYA (see Yachting Monthly April Page 9) that yacht buyers should use a solicitor to make their purchase to avoid losing money when they discover their new boat has outstanding debts.

They say that both buyers and sellers are protected as trust accounts are set up which hold clients’ monies and which are separate from the day-to-day operating funds.