Difficulty getting a mortgage after temporarily living in caravan?

monkey-fingers

freeman3030 said:

Thanks for your replies and glad to hear that the general consensus is that it would be fine. I like the comment “sanity stays” it’s nice to have your own space after years of having our own home.

Campsite fees can really vary, ~£20 per night would get us a CL site with no facilities locally, where as we’d likely be looking at £35-£40/night for a serviced site.

Were not really that fussed on costs as we know it would be cheaper than our current mortgage per month. We have a healthy income, so I’d imagine our affordability would be ok, I’m just more concerned about how a lender would view spending £500/month on pitch fees + £65/month storage costs.

Unfortunately my parents don’t have the driveway space to park our caravan to stay in (they have a caravan themselves along with a heap of project cars that my dad likes to tinker with) which takes up a considerable amount of room and I don’t know anyone else that has the space us to use for storage and stays as I’d rather give the money to friends/family.

Thanks for all the responses, it has helped immensely!

I wouldn't worry about a lender seeing £500 a month on pitch fees. Particularly if you tell them that this is a temporary cost that will disappear on moving - it's not a fixed or forced cost (which is what they care about).

If you have £50k on credit cards that requires a 1% minimum repayment, that's a minimum fixed cost. You can't avoid it. Many of us have hobbies that cost £500 or more per month. Mine, for instance, is a high-performance car. If my work goes wrong, I'll park up in the back garden and SORN it - I could do this tomorrow. So I'd not be ponying that up to my mortgage advisor.

As above, if you're doing it regularly, chances are you can negotiate down. I don't know where you are in the country, but I've stayed at CL sites that have basic facilities - i.e. shower and toilets and not paid much more.
If you can find one like that, that suits you (and is friendly).

Niv

freeman3030 said:

Thanks for your replies and glad to hear that the general consensus is that it would be fine. I like the comment “sanity stays” it’s nice to have your own space after years of having our own home.

Campsite fees can really vary, ~£20 per night would get us a CL site with no facilities locally, where as we’d likely be looking at £35-£40/night for a serviced site.

Were not really that fussed on costs as we know it would be cheaper than our current mortgage per month. We have a healthy income, so I’d imagine our affordability would be ok, I’m just more concerned about how a lender would view spending £500/month on pitch fees + £65/month storage costs.

Unfortunately my parents don’t have the driveway space to park our caravan to stay in (they have a caravan themselves along with a heap of project cars that my dad likes to tinker with) which takes up a considerable amount of room and I don’t know anyone else that has the space us to use for storage and stays as I’d rather give the money to friends/family.

Thanks for all the responses, it has helped immensely!

If the genuine only reason not to stay on their driveway is space due to their caravan, wouldn't it be cheaper to pay for their caravan to go into storage and have your van on the drive?