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ROT: Implication of 35-Year Mortgages on Leasehold

Change date
12/07/2023
Word count
143
Deployment measure
7/10
Rationale

Since 2008, lenders have been increasing their minimum unexpired lease term requirements. The majority of lenders now set their calculations based on specifying a number of years remaining beyond the mortgage term. Given that 20% of mortgages are now 35 years or longer this directly impacts the mortgageability of certain leaseholds.

Nearly twenty per cent of all loans taken out by first-time buyers were for terms of longer than 35 years. You would be forgiven for thinking that this in no …

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