Minimum remaining lease at application

Our standard acceptability

55

Criteria definition:

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. 

Policy Notes:

The Society requires 50 years unexpired at the end of the mortgage term. The minimum term is 5 years.

Outside Notes:

Warning Notes:

Criteria categories :
  • Flats and Apartments
  • Property
Criteria topics :

Last updated:

29 August 2018