Finance for mobile home

SPTSussex

Hi, We are landowners, which is owned without a mortgage. We currently have a mobile home on the property (with full planning permission), and need to change it to a larger twin unit residential spec home. I have been looking for finance for the new home, but to no avail. Ideally I would prefer not to mortgage the farm to pay for the home. Does anyone know if it is possible to get asset finance, (like you would for a car or caravan etc) for the new mobile home. We would be looking at financing approx £40-60K. Any suggestions would be greatly appreciated. Thanks

jonesMUFCforever

Is it £40k or £60k ?
Presumably you have looked at the type of mobile home you want and I'm sure their website will tell you whether they offer finance or not.

These days it is possible to get a personal loan up to £50 k if your credit report is unblemished and you can show that the repayments are affordable.

Now then if this is a business venture you won't qualify for a personal loan but will need a business one. This might come with fees and whether they would be willing to lend at those figures unsecured -- well we can't tell on here can we?

foxy-stoat

Call your bank up, they might be able to lend you the money. Asset finance or unsecured loan whatever.

MEM62

I would expect that finance for mobile homes is a specialist area. (It is an asset that will suffer extreme depreciation in its early life) The company you are buying from will either have finance options or could point you in the right direction.