Tag: leasehold conveyancing
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Fleet Ships New Leasehold Conveyancing Requirements
Yesterday Fleet Mortgages became the latest lender to change their minimum lease term requirements via the CML Handbook Part 2. In a change that would be easy to miss here is the old and new wording: Old wording : 75 years unexpired at the commencement of the mortgage term. New wording : 75 years unexpired at…
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Minimum Unexpired Lease Terms : From the Fire to the Furnace
Leasehold conveyancing solicitors beware : Lenders are changing their minimum lease term requirements. For the second time in the space of a week a CML lender discarded a whole slice of the leasehold market from being mortgageable for their perspective. Furness Building Society is the latest lender to tighten their minimum lease term requirements.…
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Conveyancers to take note of study into residential property management
The Office of Fair Trading (OFT) has recently announced its intention to conduct a market study into residential property management services for leasehold homes in England and Wales. In time the findings may have implications for leasehold conveyancing. The OFT is particularly interested in Whether leasehold owners feel that they have sufficient involvement in decisions…