Minimum remaining lease at end of term
Our standard acceptability
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).
The Society requires an unexpired lease of 50 years at the end of the term of the mortgage.
- Flats and Apartments
29 August 2018