or a normal mortage, i have never had a mortgage before, i am on DLA not with the best credit
thank you
2007-09-30 23:12:54 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Are you in the UK ?
If you are, then a mortgage is unlikely due to the short life span of these homes. Many site owners will not allow caravans more than about 15 years old.
It may be possible to get an unsecured loan, talk to your bank or an independent financial adviser.
Before you sign anything check the site fees, these can be very high.
Ian M
.
ve
2007-09-30 23:26:14 · answer #1 · answered by Ian M 6 · 0⤊ 0⤋
I presume you mean the kind of caravan you would find on a park home? If you do a Google search for 'park home mortgage' you will find a few companies that specialise in this type of loan. The ones I have looked at seem to only lend a maximum of 75% loan to value.
2007-09-30 23:21:23 · answer #2 · answered by Little Bo Peep 3 · 0⤊ 0⤋
Where are you located? Location helps answer, as the laws are different.
In California, you'd be looking for a different type of loan than a home loan. They have higher interest rates, and your credit would not be as important - they'll likely just give you a higher rate of interest. It's more like a car loan than a home loan.
My daughter looked into buying a mobile home in a park, and this is how it was treated. She decided it was a poor investment, as you also have park fees to contend with, and you don't have the investment you do when you own land/real estate.
Good luck :-)
2007-09-30 23:18:03 · answer #3 · answered by Ms. E 5 · 0⤊ 0⤋
I have no idea but wish you the best of luck,,,you could try a bank loan of up to £15,000 which is usually unsecured...that may be an answer...just ask around the banks and building societies
2007-09-30 23:16:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Go and see a mortgage advisor.
It won't cost a penny and you will et the best advice there.
2007-09-30 23:25:43 · answer #5 · answered by Pauline 7 · 0⤊ 0⤋
No..............but they will give you a loan probably up to a max of 10 years via a finance company.
2007-09-30 23:19:37 · answer #6 · answered by JJ 2 · 1⤊ 0⤋