Mortgages for a Park Home?

powerwin

Hi Guys

I was just wondering if you can get mortgages for a park home? You know, those things a bit like mobile homes but they look like little houses?

What are the "gotchas" with park homes?

Thanks

powerwin

Anyone?

Thanks

CloudCuckooLand

http://lmgtfy.com/?q=mortgages+for+park+homes

The answer is no. You need special finance. The link lists some options. The choice of Park Home location may restrict who you can use. The site developer may have their own finance options.

powerwin

Thanks. Having read the below, I doubt I will bother with a park home.

http://www.guardian.co.uk/money/2003/apr/27/property.homebuying

Rgds

HappyMJ

powerwin wrote: »

Thanks. Having read the below, I doubt I will bother with a park home.

http://www.guardian.co.uk/money/2003/apr/27/property.homebuying

Rgds

They are only suitable for a few people. My friends grandmother had one on a riverside park. Nice small place. Small enough to clean and keep tidy even for a frail 80 year old wanting to be independant. She bought it with cash from a house sale. She paid ground rent and could only use electricity for heating which was very expensive even though it was only 1 bedroom, lounge and kitchen/diner. It also had a very small shower room/toilet.

Just checked right move. If you had £39,950 you can get one here and it costs £89 per month ground rent, £8 water and sewerage and also council tax band A is due.

And to quote "Any prospective purchaser needs to be interviewed by the development owners and deemed acceptable."

powerwin

To me, it sounds like the potential for a nightmare with a park home is quite high. I don't like the idea of the increased legal complications. It's good to find out these things from the internet rather than first hand experience.

Rgds