Fees & finance
Home buying made easy
Buying a residential park home
Considering the purchase of a residential park home (or any new home) can feel overwhelming, but with our easy three-step guide, the process becomes smooth and hassle-free.
Find your perfect location
Our residential park in Wimborne, Dorset, offers the ideal location in the country to settle down permanently, and we have various park show homes available with 2 or 3 bedrooms to purchase today. We can also work alongside you to design a bespoke home for your needs.
Costs to consider
As with any residential park there are running costs that you will need to consider to be a resident at Merley Court. Costs like pitch fee, council tax, electricity, gas and water.
How can I purchase?
Normally, funds will come from a house sale. We can also help with this through our partners at Quick Move. They can help take all of the hassle away from selling your house and will aim to get you market value or close to.
Costs to consider
When buying a residential park home, it's essential to consider various costs beyond the initial purchase price. Understanding these costs upfront can help ensure that your investment is financially sustainable in the long term. To help you make the right choice, read on to find out more about the costs involved.
Stamp Duty
You do not have to pay stamp duty on a residential park home. Stamp duty is typically only applicable to traditional property transactions involving land or bricks-and-mortar homes, not to park homes.
Council Tax
Typically, Park homes are band A.
Solicitor's Fees
Our dedicated team of experts are here to support you throughout the entire process and address any questions you may have. While appointing a solicitor is not necessary, should you prefer legal guidance or have concerns that fall outside our expertise, we recommend seeking professional legal advice.
No Stamp Duty
Low Council Tax
No Solicitor's Fees
Utility Bills
There will be the usual utility bills to factor in, like electricity, water, and gas, as well as other bills to remember such as insurance, and potential maintenance or repair costs.
Site Fees
Site fees are mainly charged for leasing the land where your home is situated. Although you will fully own your home, the park operator retains ownership of the land, so site fees will still be applicable. The site fee is £285 per calendar month. The pricing is reviewed annually, and Shorefield has the authority to adjust it in line with the Consumer Price Index (CPI).
Reselling
You can sell your park home through a traditional estate agent, or park home specialist, as you would any other home. Please note it is currently government legislation that a 10% commission of the sale price is payable to the Park Owner upon completion.
Mortgages
Traditional mortgages are not available for residential park homes. This is due to the classification of these homes and the nature of the tenure. Residential park homes are often considered mobile homes or caravans and are situated on land that is leased rather than owned outright, which does not meet the criteria for standard mortgage lending.
Instead of traditional mortgages, you might explore the following alternative financing options:
Specialist Park Home Loans: Some lenders specialise in loans specifically designed for park home. These loans may have different terms and conditions compared to traditional mortgages.
Personal Loans: Depending on your creditworthiness, you might qualify for an unsecured personal loan. These loans can be used for a variety of purposes, including purchasing a park home.
Equity Release: If you already own a property with substantial equity, you might consider an equity release scheme to fund the purchase of a park home.
Savings and Investments: Using personal savings or investments to fund the purchase can be a viable option if you have sufficient funds available.
(Remember! It's important to research and understand the terms and conditions of any financing option you consider, or consulting with a financial advisor can also be beneficial).
Featured homes
We have a fabulous choice of accommodation designed to suit all budgets and tastes
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Willerby AcornAvailable now£424,995 x3 x2The Acorn is a timeless classic that has a fully flexible design that adapts to your lifestyle and built to extraordinary standards.
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Pathfinder MerleyAvailable now£479,995 x2 x2The Merley exudes the charm of a country home that has been blended seamlessly with a Scandinavian twist.
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Willerby AcornReserved£299,995 x2 x2The Acorn is a timeless classic that has a fully flexible design that adapts to your lifestyle and built to extraordinary standards.
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Your Perfect PlotAvailable now£299,995 x2 x2We have a number of plots for sale on the park available to purchase a home of your choosing on starting from £299,995.
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Willerby AcornReserved£329,995 x2 x2The Acorn is a timeless classic that has a fully flexible design that adapts to your lifestyle and built to extraordinary standards.
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Omar IkonAvailable now£359,995 x2 x2The Ikon is a contemporary and iconic park home with design flair and quality throughout and features a new interior design scheme.
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Pathfinder TuscanyAvailable now£329,995 x2 x2The Tuscany holds the best aspects of a botanical garden, having a light and breezy feel with a modern yet cosy feel flowing throughout this beautiful, bestselling home.
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Omar ImageAvailable now£329,995 x2 x2Affordable, contemporary and fresh, the Image park home from Omar stands out for its kerb appeal and offers a perfect blend of style and practicality.
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Looking to buy a residential park home?
It's a much simpler and faster process than you might think with our team on hand to help
