Mortgages Short Lease

Mortgages Short Lease

Mortgages Short Lease - Mortgages short lease refers to a mortgage for a property which has less than seventy years remaining on the lease. Mortgages short lease products are different to mortgages for longer leases because of the natural depreciation in value that is likely to occur as the lease nears renewal. The shorter the remaining time on the lease, the greater the depreciation in value is likely to be. Mortgages for short leases of less than about twenty five years are a niche product within short lease mortgages. The freeholder can reclaim the property at the end of the lease and it may be difficult to predict the price of renewal.

Depending on market conditions, mortgages short lease packages may be offered by High Street lenders for leases with more than thirty years remaining. However, there are specialist lenders who only deal with mortgages short lease products and may even be able to supply a loan for a lease of less than ten years. Unsurprisingly, lenders may ask for more information when assessing your application for these products. For instance, they may ask for the identity of the freeholder and restrict lending to specific geographical areas. However, if you are able to secure the right mortgage, short lease properties may present excellent value.

Securing the best mortgages short lease deal is a combination of understanding the available products and the potential risk involved. As a well established broker of mortgages short lease products, we have this knowledge. Our brokers analyse mortgages short lease packages from a range of providers and can find the deal which best suits your needs and requirements. We understand that the circumstances of clients seeking mortgages short lease solutions vary and take this into account. This enables us to find the optimum deal for you.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

For premium advice on mortgages short lease products, call our specialist advisers today.

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