TEAM GB sailors Iain Percy and Andrew Simpson have seen gold snatched away in their Star race on home waters.

The pair will be awarded the silver medal after losing to the Swedish team.

Percy said he was 'gutted' but said the highlight was the great cheers from the crowd.

"It's the only thing that puts a smile on my face," he said.

Simpson said the pair were never 100 per cent confident sailing off the Nothe, describing the sailing waters as a 'bit of a lottery.'

He praised the Swedes who he said 'had a great regatta overall.'