Leasehold
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Santander Conveyancing Panel: Important Update to Ground Rent Requirements
Santander has updated its ground-rent requirements effective March 2026, necessitating compliance with specific benchmarks for mortgage approvals. Ground rents must be 0.1% or less of property value, with review periods of at least 10 years and increases capped at RPI. Firms on the Santander Conveyancing Panel must stay informed to avoid delays.
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Lender Updates Leasehold Policy
MPowered Mortgages updated their P2 policy for leasehold properties, setting strict guidelines for ground rents, maintenance charges, and property valuations. Legal firms handling CQS should be aware of these changes.