• Underlease

    By Guest on 05th Mar 2015

    The house I was buying has an underlease and the mortgage providers are now saying they cannot give a mortgage on a house with an underlease.Why would this be

  • 2 Answers

    By Guest on 09/10/2016

    If you buy the property subject to the underlease then you are subject to the rights of the owner of the underlease to use, occupy, mortgage or sell the property for the remainder of the term of the underlease. In practice it might be that the underlease has been abandoned but in theory all you will have is a right to collect the rent (usually a nominal sum) until the underlease expires and so all of the value is in the underlease and not the headlease you are being offered.

  • By Guest on 09/07/2018

    I bought my house for cash 18 years ago it wasnt until the deeds were delivered did i notice i had an underlease ive tried to contact the said underleasee but cannot find them what do i do next?

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