Can I Get a Mortgage on a Flat with a Short Lease?

If you own a flat with a short lease, one of the first challenges you may face is securing a mortgage. Lenders are cautious about lease length, and the shorter your lease, the harder it becomes to borrow – or to sell to a buyer who needs finance.

Why Lease Length Matters to Lenders

A lease is a diminishing asset. As the term reduces, so does the property’s value. Banks want security for their loans, and a short lease means the flat could become less valuable over time.

Most lenders set minimum requirements for lease length. If your lease is too short, they may refuse to lend altogether.

The Typical Mortgage Thresholds

While each lender has its own criteria, some common rules are:

• Over 80 years – Usually mortgageable with no issues.

• 70–80 years – Some lenders will lend, but options narrow.

• Below 70 years – Very few lenders will finance, making it difficult to sell or remortgage.

This is why extending your lease before it gets too short is so important.

How a Lease Extension Helps

Extending your lease increases both the value of your flat and its mortgageability. Once extended, the new lease term (often 160–170 years with no ground rent under the statutory route) gives lenders long-term security, restoring confidence in the property.

What if I Want to Remortgage?

If your lease is short, some lenders may require you to extend the lease before agreeing to a remortgage. Others may offer a product only if you serve a Section 42 Notice and demonstrate the process is underway.

You may struggle to get a mortgage on a flat with a short lease, especially if it’s below 70 years. Extending your lease not only protects the value of your property but also ensures it remains attractive to lenders and buyers.

At Olden Property, we provide lease extension valuations that help leaseholders secure finance, remortgages, and successful sales.