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Park Home Finance

How Finance for Park Homes Works

While it’s not possible for you to get a mortgage on a park home, there are specialist finance companies regulated under the Financial Services Authority to complete the purchase of a residential park home or holiday lodge.

The mortgage on a traditional bricks and mortar home would be secured against the property’s listing on the land registry. When a park home or lodge is purchased, you are acquiring that property permanently and outright. The lease for the land it is situated on is for a fixed period of time, and in the case of leisure homes this can be for only part of the year.

The details for the lease of the land on which your home is sited would be included in your licence agreement. The length of your site lease will almost certainly impact on the terms upon which you can finance your property. 

There are a number of specialist finance providers in the marketplace, regulated under the Financial Services Authority, who understand park homes and lodges and how they differ from traditional brick-built properties. 

What you can typically expect from a Park Home Loan:

  • Finance up to 80% of the value of the home. 
  • Interest rates will vary based upon personal circumstances, the amount of the loan, the length of the loan and the value of the property.
  • Loan repayments up to 25 years.

When looking at finance on park homes or lodges, we recommend you shop around and obtain multiple quotes for the finance you require.