loan

kathya

Hi can someone please tell me where to go for a loan to finance a mobile home. I need in the region of £70k

tom188

Personally I would suggest it is an extremely bad idea to borrow 70k to purchase something which is likely to depreciate at a rate far in excess of the finance tied to it, and urge you to think again.

Anyway for 70k there are probably 2 options:

If you own a house consider remortgaging.

Otherwise forget it.

Hermione54

Actually around here good quality mobile homes have appreciated in value (though not like real houses, of course).

tom188

I would imagine it is the plot that has appreciated in value rather than the truck itself, which like a car will become less attractive with age.

Hermione54

rather than the truck itself

Truck? Are we talking about the same thing? Modern mobile homes are not trucks! Some of them are quite big and well put together, with facilities comparable to houses costing a lot more. Perhaps 'mobile home' is misleading; they are only 'mobile' in the sense that in theory they can be taken apart and transported in sections on huge low-loaders. I am seriously thinking about one for my retirement; I don't need to leave anything to my heirs and you get a lot more space for the money.

kathya

Thanks I have looked at a mobile and yes it does depreciate but the prices of properties are horendous and we are trying to save money. We need to finance £40k over a period of 5 years to clear down debts etc. Any ideas.

iolanthe07

I think the maximum unsecured loan you can get is £25,000 from most lenders. Why not try a broker/financial adviser who may be able to find a specialist lender for this kind of thing?