Tuesday, 21 January 2014

Building Society Panel on Notice of Tighter Minimum Lease Terms

The trend for lenders to shy away from more complicated properties continued yesterday with Tipton Coseley Building Society adding ten years to their mortgage instructions relating to minimum lease terms. Tipton publish their specific requirements via the BSA website. To see the old wording and new wording for this change click here. 

This change comes hot on the heels of a number changes which building society panel solicitors need to be aware of concerning more unusual property types such as flying freeholds and freehold flats.

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