The simple answer is no, you can’t get a traditional residential mortgage on a caravan.
The primary reason why mortgages aren’t possible is because of the technicalities behind mortgage loans. Typically, mortgages are tied to the land the property has been built on, meaning that the plot must be registered with the UK Land Registry to be eligible for a traditional mortgage.
Park homes and mobile homes are rarely, if ever, positioned on registered UK Land Registry plots. Instead, the park or site owner already owns this land and those who purchase mobile homes lease this land from the owner. Ultimately, when you buy a mobile home you are paying for the property itself but you are not buying the land that it sits on; instead, you will make regular payments to ‘rent’ your position on that land. This process is the same across almost all caravan parks.
You can however get a loan from a bank which will have the best rates or click the link below to take you to our finance page with First Business Finance
