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Financing your park home or luxury lodgexxx

Mortgages which are used to buy a traditional bricks and mortar home are not available for the purchase of a park home or holiday lodge, however, finance is readily available from specialised companies.

A mortgage on a bricks and mortar home would be secured against the property’s listing on the land registry, but with a holiday lodge or park home it is slightly different - with a park home or holiday lodge, you own the home itself but not the land which it is sited on. The lease for the land it is sited on would be for a fixed period of time and in the case of leisure homes, this is often only for part of the year. 

The details for the lease of the land on which your home is sited would be included in your license agreement and the length of your site lease will almost certainly impact on the terms upon which you can finance your property.  

Specialist finance

There are a number of specialist finance providers in the marketplace who understand park homes and holiday lodges and how they differ from traditional brick built properties.  Finance is typically available for up to 80 per cent of the value of the home, with the loans available generally up to a maximum of 15 years. Interest rates will vary based on personal circumstances, the amount of the loan, the length of the loan and the value of the property.

When looking at finance on park homes or lodges, we recommend you shop around and obtain multiple quotes for the finance you require. 

You may wish to contact the following finance providers for advice:

B2B Cash Flow Solutions
Manor Farm Barns
Fox Road
Framingham Pigot
Norwich
NR14 7PZ
Tel: 01508 494 345
www.b2bcashflowsolutions.co.uk 

Zebra Finance Ltd
Lincoln House
Stephensons Way
Wyvern Business Park
Derby
DE21 6LY
Tel: 01332 680 400
www.zebrafinance.com

Part-Exchange

Specialist part-exchange services are also available who will purchase your current home from you, thereby removing the risk of being part of a chain of sales and allowing you to move into your Wessex park home at a time that suits you.

You may wish to contact the following provider for advice:

Quick Move Properties
15 Interface Business Park
Bincknoll Lane
Royal Wootton Bassett
Wiltshire
SN4 8SY

Tel: 01793 840917
Email: px@quickmoveproperties.co.uk 
Website: www.quickmoveproperties.co.uk