FINANCIAL ASSISTANCE AVAILABLE To Buy A Park Home
Considering buying a residential park home in Shropshire?
We’re here to make sure you make the best financial decision when buying your dream home. We explain all the financial options available to you, to ensure you can make the best, most informed decision, which will continue to benefit you for years to come.
Whether you currently have a mortgage, limited deposit options, bad credit, or a home to sell before you can consider your move, let us know and we will do our best to accommodate your situation and help eliminate any unnecessary stress.
If you would like more information regarding your own personal circumstances please feel free to contact us directly.
Part Exchange Your Property
There are a number of specialist part exchange services available who will purchase your current home from you, thus removing the risk of being left in a chain, and allowing you to move into your dream park home property at a time to suit you.
The primary benefits of part exchanging your property are:
- No estate agent fees.
- Minimal legal fees and solicitor costs compared to a traditional house move.
- Part exchange services act as cash buyers, freeing you from chains, waiting and the risk of sales falling through.
- Set your own moving schedule. Using a part exchange service allows you to benefit from no moving deadlines.
- Stress free – Part exchanging your property takes away many of the stresses and inconveniences people dread when moving home.
We do not recommend or endorse any particular part exchange company, however we have listed two related companies below to help you explore your options in more detail.
Finance - Loans for Park Homes
A conventional mortgage is not suitable for the purchase of a park home. A conventional ‘bricks and mortar’ mortgage lender secures their loan on the land registry listing, whereas when you buy a park home you own the home outright but you are afforded the use of the land in perpetuity under a license agreement.
Specialist finance providers exist who understand the difference between park homes and traditional homes, and tailor their products accordingly. Typically the maximum loan amount is 80% of the cost of the home and the loan can be up to a maximum of 25 years.
Interest rates will be primarily determined by the economy but will vary depending upon the timescale of the loan, the monetary amount of the loan and the borrower’s individual personal circumstances.
The individual finance providers will be able to inform you of their specific requirements and what terms they are prepared to offer you.
- Spread the cost of finance up to 25 years
- Finance up to 70% of the purchase price of your park home
- Fixed rate of interest for the whole term of your finance
- Capital and Interest Repayment or Interest Only options available
- No upfront fees or costs
- Payment Protection and Loan Protection policies available
- Independent financial advice available
Whilst we do not specifically recommend or endorse any company, nor their products, three major finance companies that you may wish to contact are shown below:
0844 824 8888
Park Home Assist
01604 946 785
Zebra Leisure Finance
01332 680 400
Assisted Move Schemes
Assisted Move Schemes, offered by a number of vendors, are designed to take some of the stress, effort and cost out of selling your current property, helping make your dream move a stress free reality.
Benefits of Assisted Move Schemes include:
- Free market valuation on your current property
- Expert help to get your home sold
- No advertising costs or estate agents fees
Park Home Fact Sheet
Before a site owner can enter into an agreement with a person allowing that person to live in a home pitched on his or her site, he or she must give the proposed occupant a written statement that sets out certain information, including the express and implied terms of the agreement.
The agreement terms include the obligation on the part of the resident to pay a pitch fee to the site owner. Pitch fees are sometimes called ‘rent’ or ‘ground rent’ but this fact sheet uses the term ‘pitch fee’ throughout. The pitch fee is the amount required to be paid by the resident in return for being allowed to keep a park home on the pitch and use common areas of the site. The pitch fee does not include amounts due in respect of gas, electricity, water and sewerage and other services (e.g. the renting out of a garage) unless specifically stated in the agreement between the site owner and resident.
Residents Rights & Obligations
The written statement includes implied terms as well as the express terms of the agreement which have been agreed between the site owner and the park home owner. park rules may also form part of the agreement and residents should ensure that they obtain a copy.
In essence the law:
- Gives a park home owner security in their park home by defining the limited circumstances in which a site owner can terminate the site agreement.
- Requires the site owner to provide advance notice of the terms that will apply to the person proposing to occupy a park home on their site (the written statement).
- Dictates exactly what many of the terms and conditions of the contract should be.
More Information on How to Buy a Park Home
If you’d like more information about the financial options available don’t hesitate to contact us directly.
We can be reached by telephone at:
Or come along to the park and have your questions answered in person by an expert advisor.
Stretton Road, Much Wenlock, Shropshire, TF13 6DQ
Whilst we do not specifically recommend any company, nor endorse their products, we have included some helpful links to major companies that you may wish to investigate above.
If you have any other questions
we are happy to help!
Our plots are currently available to reserve. To express your interest in our park, to book a viewing or to discuss your financial options with one of our friendly team please send us a message or call us on: