Are you a UK resident that’s considering buying a mobile home? What are the most FAQ about the mobile home-buying process? We answer the big questions here!
Around 85,000 households in the UK live in mobile homes.
If you’re thinking of making yours one of them, there are a few things you need to know first.
Have you decided what kind of mobile home you’ll buy, where you’ll keep it, and how you’ll finance it?
If not, don’t worry. In this post, we’ll tell you everything you need to know.
Things You Should Know Before Buying a Mobile Home
Not sure where to start with your mobile home plans? Read our handy guide to find out.
1. What are My Options?
When you’re looking to buy a mobile home, you don’t always have to go to a showroom and buy something brand-new.
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If you want a cheaper and easier option, you can go directly to a park home site and buy an unoccupied one they already have, or buy one from a resident there who’s planning to leave.
In this case, the site owner must provide you with a copy of the Mobile Homes Act 2013, as well as their park rules and a written statement, all at least 28 days before your purchase.
2. Can I Get a Mortgage?
Mortgages only for brick-and-mortar properties.
This is because they’re secured against Land Registry property listings. When you buy a mobile home, you have no ownership over the land you keep it on. So, a mortgage can’t apply in this case.
However, that doesn’t mean that you can’t get assistance when you’re buying a mobile home.
Some lenders provide mobile home loans to help finance these kinds of purchases.
3. Where Can I Keep my Mobile Home?
There are two main choices for mobile home sites.
The first is a protected site or ‘park home site,’ which is open all-year-round. Here, you can only be evicted with a court order.
The second is an unprotected site. These sites are generally open for 9-10 months of the year and are intended for holiday use, but some residents may stay for as long as they’re open. Individual regulations depend on the site owner and their licensing agreements.
4. Do I Have to Pay Council Tax?
Mobile homes are subject to council tax in the same way that other properties are.
This means that the amount of tax you pay depends on the value of your home.
However, this depends on where your mobile home is placed. Mobile homes on protected sites are subject to council tax, while those on holiday sites aren’t.
5. What Extra Charges Apply?
The cost of buying your mobile home isn’t the only expense you need to think about.
You may also have to pay pitch fees to keep it on a site, as well as service charges for facilities, and fees to connect your home to water, gas, and electricity.
Become a Landlord
If you’re planning on buying a mobile home and living in it long-term, you may be interested in becoming a landlord.
While you’re making use of your mobile home, you might as well rent out your main property. That way, you can maximize your income.
This can be a great option for investment.
For some more tips, read our list of smart ways to invest in 2019.