Legal Assistance When Moving into Your First Park Home
Understanding the lease hold arrangements of park homes can be tricky, so use a reputable solicitor to guide you every step of the way.
With a quarter of a million Brits living in residential park homes, it’s clear that this is becoming a popular way of life. Whether you’re looking to downsize as a retiree, or like the idea of moving away from the hustle and bustle of city life, a park home community can be the perfect solution. Some have age restrictions, but many will accept anyone so long as they can afford the price tag of between 70k to 400k for a new home. When going through the purchase of a residential park home, you’ll discover that the process is quite different from buying a typical bricks and mortar property. Therefore, it’s best to use an experienced conveyancing solicitor to help guide you through every step.
Understanding Park Home Leases
When you purchase a park home, you’ll own the mobile home itself but not the ground on which it stands. The land is rented from the residential park site, and you’ll be required to pay a pitch fee every year to the landowner. This fee can be changed every year so long as you’re given 28 days’ notice – if you feel that you’re being charged too much for your pitch fee, then your solicitor can assist with the process of applying to a housing tribunal. Some leases will require you to vacate your residential park home for a certain portion of the year, such as 1-2 months, so it’s important to have a conveyancer go through the fine print of your lease to ensure you have a thorough understanding of what you’re signing and when you’ll need to renew.
The Condition Of Your Home
When you commit to the purchase of a residential park home, you’ll want to be certain that you’re receiving value for money. New park homes will cost substantially more than a pre-owned home, but if you’re tempted by an older model, then a solicitor will be able to advise you as to whether it represents a solid investment. It’s a good idea to have a survey done to ensure you’re aware of any existing problems that come with the property. Legally, the vendor is under no obligation to have this done, so the onus will be on you to pay for a survey to be conducted. Your solicitor can then use the results of the survey as a basis for negotiation, and may refer to the Mobile Homes Act of 2013.
Financing Your Home
Typical high street mortgages tend to be off the table when it comes to the purchase of a residential park home. Instead, finance companies offer products that are suited to this type of residence – if you require such a loan, then your solicitor will deal with the transfer of funds from lender to vendor.
There is no formal obligation for a buyer to obtain legal assistance when purchasing such a property. However, it’s fair to say that residential park solicitors Essex will make the process far simpler and offer peace of mind that you know exactly what you own when you receive those keys to your new home!