Minimum remaining lease at end of term
Our standard acceptability
Indicates the minimum required lease remaining at the end of the mortgage term a Buy to Let lender can potentially accept. For example Alex is looking to purchase a flat which currently has a remaining lease term of 90 years and wishes to take out a mortgage over 20 years. Therefore his remaining lease at the end of the mortgage term will be 70 years (90-20=70). He approaches his lender of choice and is told that there must be a minimum of 60 years remaining on the lease at the end of the mortgage term and he is therefore invited to apply for a mortgage.
The Society requires an unexpired lease term of 50 years at the end of the mortgage term.Criteria categories:
- Flats and Apartments
21 August 2018