New Life Mortgages is the latest of a number of lenders who have changed their CML Handbook requirement relating to unexpired lease terms (section 5.14.1).
The new requirement reads :
"Leasehold remaining term plus the age of the youngest borrower at completion must be at least 185 years".
A novel approach. Interested to see if others follow the same logic.
Thursday, 18 August 2016
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