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Shared Ownership lease and Nationwide
Michelle2014
Posts: 81 Forumite
So we got our mortgage offer from Nationwide this week, for a remortgage of our shared ownership flat. I have now discovered the lease doesn't meet Nationwide's standards in relation to the rent. Nationwide say the lease shouldn't allow for the rent to be increased by more than 5% a year but our lease allows 7%.
Does anyone have any experience with this - does this mean the remortgage is now off? Or will Nationwide still consider it?
Does anyone have any experience with this - does this mean the remortgage is now off? Or will Nationwide still consider it?
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