Cash Buying & Part Exchange
Most park homes are purchased outright with cash. Understand your options, including part exchange, and how to make the most of your move.
Unlike conventional property, traditional mortgage finance is rarely available for park homes. The vast majority of buyers purchase with cash, either from savings, the proceeds of a house sale, or both.
Why are park homes usually bought with cash?
Park homes are classified as chattels rather than real estate, which means standard residential mortgages do not apply.
- Proceeds from selling a bricks-and-mortar home
- Savings or investments
- A cash lump sum from downsizing
- Inheritance or equity release from other assets
The upside is speed: there are no mortgage surveys, lender conditions, or chains to worry about.
Part exchange - what is it?
Some park operators offer a part exchange scheme. The park or partner company may agree to purchase your existing property in exchange for a new park home on their site.
How part exchange typically works
Express interest
Identify a new park home and ask whether the park offers part exchange.
Valuation arranged
The park or appointed agent arranges to value your existing property.
Offer made
The park makes a written offer, which you are under no obligation to accept.
Agreement signed
If you accept, a legal agreement is drawn up and should be reviewed.
Completion
You move into your new park home on an agreed date.
Pros and cons of part exchange
Advantages:
- No estate agent fees on your sale
- Reduces the risk of a buyer falling through
- Faster, simpler process
- Can synchronise sale and purchase dates
Things to be aware of:
- Part exchange prices are usually below market value
- The park may have restrictive conditions
- You have less flexibility on your moving timeline
- Always take independent legal and valuation advice