Minimum remaining lease at end of term
Our standard acceptability
50
Criteria definition:
Indicates the minimum required lease remaining at the end of the mortgage term we 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).
Policy Notes:
The Society requires an unexpired lease of 50 years at the end of the term of the mortgage.
- Flats and Apartments
- Property
Last updated:
29 August 2018