diff --git a/tests/test_gossip.py b/tests/test_gossip.py
index 37ffb42f6..1cc3a5443 100644
--- a/tests/test_gossip.py
+++ b/tests/test_gossip.py
@@ -939,6 +939,85 @@ def test_gossip_addresses(node_factory, bitcoind):
     ]
 
 
+@unittest.skipIf(TEST_NETWORK != 'regtest', 'elementsd doesnt yet support PSBT features we need')
+@pytest.mark.developer("needs dev-fast-gossip")
+@pytest.mark.openchannel('v2')
+def test_gossip_lease_rates(node_factory, bitcoind):
+    lease_opts = {'lease-fee-basis': 50,
+                  'lease-fee-base-msat': '2000msat',
+                  'channel-fee-max-base-msat': '500sat',
+                  'channel-fee-max-proportional-thousandths': 200}
+    l1, l2 = node_factory.get_nodes(2, opts=[lease_opts, {}])
+
+    # These logs happen during startup, start looking from the beginning
+    l1.daemon.logsearch_start = 0
+    l2.daemon.logsearch_start = 0
+
+    rates = l1.rpc.call('funderupdate')
+    assert rates['channel_fee_max_base_msat'] == Millisatoshi('500000msat')
+    assert rates['channel_fee_max_proportional_thousandths'] == 200
+    assert rates['funding_weight'] == 666  # Default on regtest
+    assert rates['lease_fee_base_msat'] == Millisatoshi('2000msat')
+    assert rates['lease_fee_basis'] == 50
+
+    rates = l2.rpc.call('funderupdate')
+    assert 'channel_fee_max_base_msat' not in rates
+    assert 'channel_fee_max_proportional_thousandths' not in rates
+    assert 'funding_weight' not in rates
+    assert 'lease_fee_base_msat' not in rates
+    assert 'lease_fee_basis' not in rates
+
+    # Open a channel, check that the node_announcements
+    # include offer details, as expected
+    l1.rpc.connect(l2.info['id'], 'localhost', l2.port)
+    l1.fundchannel(l2, 10**6)
+
+    # Announce depth is ALWAYS 6 blocks
+    bitcoind.generate_block(5)
+
+    l2.daemon.wait_for_log('Received node_announcement for node {}'
+                           .format(l1.info['id']))
+    l1.daemon.wait_for_log('Received node_announcement for node {}'
+                           .format(l2.info['id']))
+
+    l2_nodeinfo = only_one(l1.rpc.listnodes(l2.info['id'])['nodes'])
+    l1_nodeinfo = only_one(l2.rpc.listnodes(l1.info['id'])['nodes'])
+
+    assert 'option_will_fund' not in l2_nodeinfo
+    rates = l1_nodeinfo['option_will_fund']
+    assert rates['channel_fee_max_base_msat'] == Millisatoshi('500000msat')
+    assert rates['channel_fee_max_proportional_thousandths'] == 200
+    assert rates['funding_weight'] == 666  # Default on regtest
+    assert rates['lease_fee_base_msat'] == Millisatoshi('2000msat')
+    assert rates['lease_fee_basis'] == 50
+
+    # Update the node announce (set new on l2, turn off l1)
+    # (Turn off by setting everything to zero)
+    l1.rpc.call('funderupdate', {'channel_fee_max_base_msat': '0msat',
+                                 'channel_fee_max_proportional_thousandths': 0,
+                                 'funding_weight': 0,
+                                 'lease_fee_base_msat': '0msat',
+                                 'lease_fee_basis': 0})
+    l2.rpc.call('funderupdate', {'channel_fee_max_base_msat': '30000msat',
+                                 'channel_fee_max_proportional_thousandths': 100,
+                                 'lease_fee_base_msat': '400000msat',
+                                 'lease_fee_basis': 20})
+
+    l1.daemon.wait_for_log('Received node_announcement for node {}'.format(l2.info['id']))
+    l2.daemon.wait_for_log('Received node_announcement for node {}'.format(l1.info['id']))
+
+    l2_nodeinfo = only_one(l1.rpc.listnodes(l2.info['id'])['nodes'])
+    l1_nodeinfo = only_one(l2.rpc.listnodes(l1.info['id'])['nodes'])
+
+    assert 'option_will_fund' not in l1_nodeinfo
+    rates = l2_nodeinfo['option_will_fund']
+    assert rates['channel_fee_max_base_msat'] == Millisatoshi('30000msat')
+    assert rates['channel_fee_max_proportional_thousandths'] == 100
+    assert rates['funding_weight'] == 666  # Default on regtest
+    assert rates['lease_fee_base_msat'] == Millisatoshi('400000msat')
+    assert rates['lease_fee_basis'] == 20
+
+
 def test_gossip_store_load(node_factory):
     """Make sure we can read canned gossip store"""
     l1 = node_factory.get_node(start=False)