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Mobile Home Mortgage

Last post Fri, Jan 22 2010, 4:49 PM by smurfy1975. 3 replies.
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  •  Fri, Jan 22 2010, 4:49 PM

    Re: Mobile Home Mortgage

    You cannot get a normal mortgage on a Park Home, as you would on a brick built house. This is because a Park Home is still legally classed as a Caravan.

    There are specialist companies that will provide finance to purchase a park home that is under 14 years old, but the interest rate will be slightly higher than you would expect to pay on a mortgage.

    There is a really good website that explains all of this, along with the ins and outs of buying and selling a park home. Its called www.parkhome-living.co.uk

    Hope that is of some help to you

    Nina

    • Post Points: 5
  •  Sun, Nov 18 2007, 12:27 PM

    Re: Mobile Home Mortgage

    Hi! I have also bought a Mobile Home recently as it is cheap but I would like to caution you to check it thoroughly before you finalize the deal. I recently found a site named
    http://www.manufacturedhomeloan.org/ which elaborates on the subject in detail and you may like to go through the article directly if you so desire at http://manufacturedhomeloan.org/mobile-home-mortgage-brokers-finding-the-one-that-you-can-trust/manufactured-homes/ . Wish you good luck!
    • Post Points: 20
  •  Sat, Nov 17 2007, 6:09 PM

    Re: Mobile Home Mortgage

    Some mortgage lenders will not touch these. Remember that if the home is on a park you cannot sell it like you would sell a house. Also note that the annual fees on most parks are enough to pay a mortgage on a bricks-and-mortar house, and then you'll pay the same again to "own" the caravan.
    • Post Points: 5
  •  Sat, Nov 17 2007, 6:03 PM

    Mobile Home Mortgage

    I would like to learn about the salient points to keep in mind while applying for mobile home mortgage. Will some one please help?!

    • Post Points: 35