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Short Lease Mortgages – Types available

Get a quote for a Short Lease Mortgage

It is a common misconception that properties with short leases are impossible to finance. Many people will have this impression after they speak with their bank to arrange finance.

We often receive enquiries after the client has been turned down for a mortgage or finance by their own bank!

Our lender’s policy for a short lease mortgage falls into three broad categories;

Ultra Short Lease Mortgages – 3 to 25 years at the start of the mortgage term

– Up To 70% Loan To Value

– Lenders will assess the mortgage based on income, the mortgage is normally arranged on a repayment basis and the term should not exceed the number of years left on the lease. As long as the lender is happy that the mortgage is affordable and the client has the ability to repay the whole mortgage with the term of the remaining lease then a mortgage may be granted.

– This criteria applies for CENTRAL LONDON PROPERTIES ONLY – There may be specific area restrictions within Central London.

Short Lease Mortgages – Minimum of 10 years left at the end of the mortgage term.

– Up To 85% Loan To Value

– Lending is granted again on the principle that as long as the loan is affordable based on income and repaid with a minimum of 10 years remaining the end of the loan term then the lender is happy to consider applications. This criteria applies for CENTRAL LONDON PROPERTIES ONLY – There may be specific area restrictions within Central London.

 

Short Lease Mortgages – Minimum of 25 years left at the end of the mortgage term

– Up to 85% Loan To Value

– No restrictions on property location – all of UK subject to valuation

Get a quote for a Short Lease Mortgage

Short Lease Mortgages – Types of Mortgages available