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Lease on nationwide offer
sm1989
Posts: 1 Newbie
Hey Guys,
Very quick Q.
I have my mortgage offer from nationwide and the lease listed is 995 years but in reality it’s actually 998 years.
Would this small difference be something worth flagging up?
I’m concerned it will add time to the process.
Thanks in advance!
Very quick Q.
I have my mortgage offer from nationwide and the lease listed is 995 years but in reality it’s actually 998 years.
Would this small difference be something worth flagging up?
I’m concerned it will add time to the process.
Thanks in advance!
0
Comments
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Hi, I would probably ask them to change it. But I am a worrier!0
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It's your solicitor who would flag up any material discrepancies to the lender, not you. If anything the fact the lease ends in 3016 rather than 3013 will be a bonus...0
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I find this really annoying.
I establish the lease term and enter it on the application. Surveyor goes out to do valuation and it comes back with a different number on it (favourite is assumed 85 years (55+30), Nationwide's minimum) then post-offer, solicitor has to contact Nationwide and have it changed back to what I put on the app in the first place and a new offer has to be issued.
Unnecessary work creation all round.
As david said leave it for your solicitor.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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