Sometimes the pitch fee will include utilities and, if that is the case the agreement should clearly set this out. The terms of the pitch agreement will set out the amount of the pitch fee and when is it to be paid to the site owner. Pitch fees can range from around £60 to more than £200 per month depending on location, size of home and amenities on the site. Pitch fees are charges payable to the site owner for use of the site. You could also take out a specialist loan agreement: while not the same as a mortgage, there are specialist lenders who offer loans designed especially for park homes, which can help you access the money you need.Īlways seek independent advice from a solicitor before proceeding with a park home transaction.If you’re looking for a quick and easy way to sell your current home, then a part-exchange scheme can be a good way to avoid delays and sell up faster.If you have some equity built up in your current property, then you may be able to buy a park home outright, as they tend to be cheaper than traditional bricks-and mortar houses.With a traditional residential home, mortgages are secured against the property owner’s title on the HM Land Registry.Īll park homes are sold outright, but the land they stand on is leased, meaning the owner pays rent to the site owner for the plot of land (or ‘pitch’) on which their home is situated.Īccording to Quick Move Properties, the following are common financing options: This is because the land they stand on is owned by the site owner, not the residents. Unlike a brick-and-mortar home, you cannot get a mortgage on a park home. The Mobile Homes Act 1983 gives a number of rights and protections to park homeowners who occupy the home as their own or main residence if it is situated on a protected site.Ĭheck the status of the park with the site owner and get it in writing before making a purchase. The licence should be displayed in some prominent place on the site. In some instances, the licence may allow both permanent and holiday homes.
This site licence will state whether the site is a holiday site or, crucially, fully residential. If you are buying a park home that you would like to use as a permanent residence, you need to find a site that is classed as a protected site – the site must have planning permission and a site licence from the local authority. This article explains what is actually like to live on a residential site, so before you purchase a park home, you can make an informed decision about whether the lifestyle is right for you. Living on a park home site does differ from living in a bricks-and-mortar property in a number of ways and it is important that you consider this before deciding to move. Buying a residential park home may be a great choice for people who are retiring or looking to downsize or simply like the idea of living in one.
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