Short Lease
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Platform Home Loans Conveyancing Panel Alert – Minimum Lease Term
Mortgage lenders are tightening criteria for properties with short unexpired lease terms. Platform Home Loans has increased its minimum acceptable lease length from 50 years to 70 years, aligning with major peers. Conveyancers must audit active files for compliance and seize opportunities for lease extensions amid these stricter requirements, impacting transactions significantly.
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Bridging Lender Creates Conveyancing Panel for London Lease Extensions
Bridging packager Voltaire has introduced a specialist short lease extension product tailored for high-value properties across prime London, catering exclusively to transactions requiring a minimum loan size of £500,000. To streamline the notoriously complex process and specialised area of lease extensions, the product operates as a joint venture with a strict panel structure: borrowers are…