- Short Lease
- All Leases Considered
- Common Sense Underwriting
- Mainstream Rates Leases 30 Years+
- Residential & Buy to Let
- From 10% Deposit
- Employed & Self Employed
Short Lease Mortgages
Clients frequently approach us to arrange a mortgage or remortgage on a house or a flat with a short lease.
Generally speaking, lenders typically consider leases of 70 years and below as “short leases”, however this does vary from lender to lender with some able to consider leases as short of 11 years at the end of the mortgage term for Central London properties.
Lenders often tell us that they are not keen to lend on properties with short leases as the property could be more difficult to sell in the future when compared to a longer leasehold or freehold property. Additionally, they say that the short lease may affect the value of the property in the future as the lease gets shorter.
Clients that typically approach us to assist with a mortgage or remortgage on a short lease property state that they have had some difficulties with either their bank or mortgage lenders they have spoken to due to the current length of the lease on a property.Read More >>
They may be looking to purchase the property and then extend the lease at a later stage. Alternatively, a lot of clients are looking to remortgage a short lease property to raise funds to extend the lease or perform home improvements.
At RockHopper we appreciate everyone’s circumstances are different. That’s why we look at every client on a case by case basis to see if it is something we can assist with. Our clients appreciate this approach as it means we don’t try to fit everyone into the same box or rely on a computer to give a “yes” or “no” decision.
If you would like to see whether we can help you with your short lease mortgage, do get in touch for a free no obligation quotation either by telephone or sending us an enquiry.