Residential Park Home - Important Info
Click below for further information on what it means to own a Park Home. If this information doesn't answer all your questions then give the Park a call. We're happy to help.
Owning a Park Home
Things you should know about owning a park home:
Most homes are connected to mains water and electricity and usually gas, too. For water, electricity and gas (but not LPG supplies), the regulators (e.g. OFWAT) ensure that the Park owner must “pass through” the cost of supply. So he/she must not add an additional margin to the resale price to the resident.
Gold Shield Ten Year Warranty
Free 10 year structural warranty on new park homes
Available to all Allens Caravans Residential Parks, the ten year warranty covers against inherent defects in the load bearing structure.
Started in 1987, Gold Shield has covered over 12,000 Park Homes. The scheme was extensively revised and re-launched in June 2005. It is NOT an insurance policy and homeowners should therefore insure their homes in the normal way.
Insurance for a Park Home is arranged for Buildings/Structure and Contents, in a similar fashion as bricks and mortar insurance. However Park Homes insurance should be taken out with a specialist insurer such as
Jardine Lloyd Thompson
, as they will have a firm understanding of structuring costs and any specific perils.
Council Tax is payable on Park Homes in the same way as any other Bricks and Mortar Home. At the current time all Park Homes are classed under Band A, this means when owning a Park Home you will pay the cheapest Council Tax rate available.
What Is The Legal Process For Buying A Park Home?
If you are buying a Park Home on a residential Park, the first step is to check the site licence to ensure that the Park is licensed for residential mobile home use. Holiday Parks do not offer the same legal protection as residential Parks. Under the Mobile Homes Act 1983, you and the Park owner must enter into a written agreement.
How to pay for your Park Home.
There are two situations that may occur whilst buying a Park Home:
When buying a Park Home you are downsizing your property, and hence the buying price is below the selling price for your Bricks & Mortar home, thus releasing capital as well as buying the Park Home.
When buying a Park Home, the sale of your bricks & mortar home doesn't reach the asking price, in which you will need to top-up.
On all our Residential Parks there is a yearly pitch fee to pay, this is due as a monthly payment. This forms part of the agreement made when a Park Home is bought, it is used to pay for things like sewage, upkeep of communal grounds & facilities, amongst other items. This fee may increase but only by inflation; there are strict guidelines on the way this fee can increase, and will never be increased by an unfair amount.