Holiday Lodge Finance
Although is it not possible for you to get a mortgage on a holiday lodge, it is possible to take out holiday lodge finance from specialist companies.
Getting a mortgage on a home made from bricks and mortar secures it against the property’s land registry listing. When purchasing a lodge, you are acquiring that property permanently and outright. The land where you site your lodge will have a fixed lease, and in the case of leisure homes this is often only for part of the year.
There are a number of specialist finance providers in the marketplace who understand the details that would be included in your licence agreement, and how they differ from traditional bricks and mortar properties. The length of your site lease is highly likely to impact the terms upon which you finance your property for example.
Typically, the potential amount of finance you could get for a holiday lodge is 80%, loaned for up to 25 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 provider for advice: