Lease-hold land

Hi all. After looking at IPs today, we came across one that might be good, but it consists of a house on lease-hold land. I’ve been assured that the Shire is going to extend the leases in the area for another 21 years when they run out (some nearby have already been extended). Does anyone know the legalities of owning a house on leased land? Is it sort of like owning a unit? I know the bank is not as keen to lend unless there is a long (written) lease in place. Thanks in advance!