For buying and refinancing Park Homes
High quality finance solutions for parkhomes (must be an existing homeowner).
We can deliver enhanced, bespoke or exclusive terms through our market knowledge.
Purchasing a park home is a major investment. While some buyers may buy outright with cash, many must finance the purchase through asset finance. Asset finance allows you to buy a park home without paying the full amount upfront.
Park homes are not eligible for mortgage finance, which is where asset finance comes in.
However, please note that asset finance is not available for main residences. So, funding is only available for second-home, rental or business purchases.
Hire purchase (HP) is a common way to finance a park home. It involves:
HP agreements usually range from 3-7 years. You cannot sell the home until all payments are complete. If you default on payments, the finance company can repossess the home.
Personal Contract Purchase (PCP) is not commonly offered to finance UK park homes. However, some lenders may provide PCP-style plans.
With PCP for park homes, you would:
You will own the home if you complete all payments. If not, you return it without owing more money.
PCP offers flexibility, but the balloon payment can be substantial. Monthly payments may be lower than other finance options since the lender assumes a residual value for the home.
However, PCP has strict limits on mileage and condition. Exceeding those could require you to pay extra fees.
Some parks offer rent-to-own terms allowing you to rent a home for 1-2 years before buying. Your rental payments contribute towards the purchase. Benefits include:
Ensure your rental contract specifies purchase terms so your equity is protected.
If you have an existing property, equity release uses its value to provide a lump sum for buying a park home. You take out a loan against your home and receive tax-free cash to finance the purchase. No repayments are due until the property is sold.
Equity release rates vary so compare plans. Ensure you retain enough equity to fund future needs.
The best financing option depends on your circumstances. Seek professional advice to find the right park home asset finance plan for you.
If you are looking for a park home in the UK, you have many options. Whether you need a park home for residential or holiday use, you can find a model that suits your lifestyle and budget. In this table, we have listed some of the types of park homes available for financing in the UK, along with their price ranges.
You can compare different models' sizes, designs, and amenities and decide the best for you.
Park homes from different manufacturers, sellers, and sites may have different offerings and prices. The best way to get an idea of the range and variety of park homes is to do your research
Vehicle Type | Model | Price Range in UK | Source |
---|---|---|---|
Park Homes | Prestige Homeseeker Sonata II | £140,000 - £180,000 | [Park Homes] |
Omar Colorado | £110,000 - £150,000 | [Omar] | |
Tingdene Harrington | £110,000 - £150,000 | [Quickmove Properties] | |
Regal Spinney | £60,000 - £100,000 | [Omar] | |
Wessex Classic | £70,000 - £110,000 | [Omar] | |
Prestige Homeseeker Anthem | £60,000 - £100,000 | [Park Homes] | |
Tingdene Kensington | £90,000 - £130,000 | [Quickmove Properties] | |
Omar Ikon | £150,000 - £200,000 | [Omar] | |
Tingdene Country Lodge | £70,000 - £110,000 | [Quickmove Properties] | |
Prestige Homeseeker Sofia | £150,000 - £200,000 | [Park Homes] |
If you choose to finance your park home using an asset finance plan, such as hire purchase, lease purchase, contract purchase, or PCP, you may wonder what happens at the end of the plan. Depending on the type of plan you have, you may have the following options:
The best option depends on your circumstances. Compare costs and benefits to make an informed decision.
Finding the best park home finance deal can be difficult. That's why a broker can help you find the best deal and suitable option. At Clifton Private Finance, we can help you:
As leading finance brokers, we specialise in park home finance. We compare options from multiple lenders to find bespoke solutions to suit your needs and budget.
We're happy to answer questions and provide a free, no-obligation quote. We look forward to helping with your park home finance needs.
If you are interested in buying a park home on finance, contact us today and speak to one of our expert advisers. We will be happy to answer any questions you may have, and provide you with a free, no-obligation quote. We look forward to hearing from you soon.
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
James M
Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.
William W
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Chantelle S
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
Myr B
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
C Jefferey
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
Mr Morris
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
Charles N
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.
Rowena C