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Leasehold property
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happy35
Posts: 1,616 Forumite
I own a 1970s leasehold property that I have just put up for sale.
The lease has around 60 years left on it, so I know it is not mortgageable.
I have recently applied to buy the freehold, received the offer and paid the fee to buy the leasehold, not sure how long the transfer will take.
Does anyone know if a mortgage company would lend on the property knowing the freehold has been purchased but pending?
Thanks
The lease has around 60 years left on it, so I know it is not mortgageable.
I have recently applied to buy the freehold, received the offer and paid the fee to buy the leasehold, not sure how long the transfer will take.
Does anyone know if a mortgage company would lend on the property knowing the freehold has been purchased but pending?
Thanks
0
Comments
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Yes, they would provided all completes at the same time as the mortgage goes in place.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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