Parks Blog
The blog for holiday & residential park owners
Funding the purchase of a holiday home through traditional lending from a bank is not as easy as it used to be and many holiday park owners will be looking at different ways to clinch a deal.
Hire purchase agreements for the purchase of caravans as a way of securing a buyer are getting more popular but they bring their own complications and park owners who are considering offering hire purchase should consider carefully the benefits and downsides of doing so. read more
In these difficult times purchasing a holiday home is not on everyone’s list as a way to spend their hard earned extra cash or savings and many holiday park owners will be looking at different ways to clinch a deal.
Hire purchase agreements for the purchase of caravans are an increasingly popular way of securing a buyer but they bring their own complications and park owners who are considering offering this type of agreement will should consider carefully the benefits and downsides of doing so. HP agreements can only be used for chattels and not buildings so those parks with lodges which fall into this category must take care; properly trained staff will be key.
In order to enter into a hire purchase agreement with individuals, a credit licence will be required, together with an A level in maths to work out the APR!
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