Text for Report on Title
ROT: Lenders Tightening Requirements - Remaining Lease Term
- Change date
- 22/06/2022
- Word count
- 136
- Deployment measure
- 7/10
Rationale
5.16f of the new CQS (CPMS) requires conveyancing lawyers to advise your client of current lender requirements regarding leasehold transactions. The sample paragraph sets out Important advice to the borrower client explaining current trends and more. In this instance we are using the example of a lease with 87 years remaining on a 35 year mortgage although clearly you would be able to adjust on a case by case basis.
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