Financing Your Park Home Purchase

Maritime 2

Throughout our 3 years in business selling park homes and leisure lodges there is one factor that keeps cropping up time after time – finance! Many people we have met have dreamt of living in a park home for years and when it comes to making this dream a reality, this can be a major barrier for people.

A mortgage is the crutch the majority of people lean on in order to purchase a house and it seems that in this day and age the banks are more willing to give people mortgages and with schemes such asĀ “Help to Buy” we are being actively encouraged to invest in property.

Unfortunately the same cannot be said for the Park Home industry where finance options are distinctly lacking. So why exactly is this the case?

A mobile home must be sited on a plot somewhere and unless you are fortunate enough to have your own land and even more fortunate enough to have had planning permission passed to site a park home on that land, then you will be siting your home on a park. This means that although you have purchased your home outright, the land on which it is situation does not belong to you hence the payment of Site Fees or Ground Rent. This is not a desirable scenario for the banks and therefore results in them turning down any mortgage application for a residential park home.

At Rowanwater we do not sell the plot with the home therefore the land will not belong to the resident and the option of a mortgage is not open to them. We do however like to provide our customers and our residents with a good service and therefore have given some customers a helping hand with their lodge purchase ourselves. That’s right – we offer finance!

The benefit of arranging finance with us is that it cuts out any third Party Company who may be seeking to make a profit from your financial situation meaning our interest rates are low and there is no arrangement fee or early repayment fee! You will deal directly with us and make repayments directly to us, no one else is involved and each finance arrangement can be organised to suit your individual requirements.

Sound too good to be true? I can assure you it is not, it is just another benefit of lodge life on Rowanwater! For more information on the general T&Cs of our finance options please get in touch on 01995 679772 or info@rowanwater.co.uk and we will be happy to discuss the options with you.


© 2018 Garstang Road, St. Michael's-on-Wyre, Nr. Garstang, Lancs PR3 0TD       Email: info@rowanwater.co.uk