Tag: Flying Freeholds
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Flying freehold mortgages: 122 lenders changed their requirements. What applied when you bought?
The property situation remains unchanged, but mortgage requirements for flying freeholds have significantly altered, as highlighted by Lexsure, which recorded 328 changes from 2009 to 2026 across 122 lenders in England and Wales. These changes impact the ease of selling or remortgaging properties with flying freeholds, raising essential questions regarding lender guidelines and advice during…
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CML Handbook P2 Changes 2013 – Review At-a-Glance
Lenders made 68% more changes to their requirements in 2013 compared to 2012 According to Lexsure’s review, 91% of CML lenders amended their Part II policies last year, with over 1,793 sections changed. This represents a 68% rise in policy change activity compared to 2012. Some of the more frequent changes focused on the following:…
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Lenders Shying Away From Freehold Flats
Yorkshire Building Society has tightened its mortgage lending criteria by removing a geographical exception for freehold flats in Scarborough, now rendering many such properties unmortgageable. This change is part of a broader trend among lenders to avoid the risks associated with freehold flats, following similar restrictions imposed by major banks across England and Wales.