Kent Solicitors

Some old leases contain a bankruptcy clause. This allows the Freeholder to take back the property if the lessee becomes bankrupt. Of course lenders will never accept a lease with a bankruptcy clause as good security for their loan. It is also of course contrary to their instructions to solicitors contained in the CML handbook. Therefore a Deed of Variation will be required and some scrupulous landlords will demand a hefty fee to remove it.

Labels: Bankruptcy Clause Lease Deed of Variation CML Council of Mortgage Lenders