Minimum remaining lease at application
Our standard acceptability
Indicates the minimum required lease remaining at date of application a Buy to Let lender can potentially accept. For example Alex is looking to purchase a flat to rent out which has a remaining lease term of 47 years. He approaches his Buy to Let lender of choice and is told that there must be a minimum of 55 years remaining on the lease at the time of application and he is therefore unable to apply with this lender at this time.
The Society requires 50 years unexpired at the end of the mortgage term. The minimum term is 5 years.Criteria categories:
- Flats and Apartments
29 August 2018