Lease extension quote

Every year you wait, your lease gets shorter and the cost of extending goes up. Act before you hit 80 years and avoid paying marriage value on top. 

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• Fixed legal fee: from £600
• Typical total cost:  £8,000 - £25,000+
• Timeline:  3 - 6 months
• What it does: Increases the number of years remaining on your leasehold title
• When you need one: When your lease is short, before selling or before remortgaging
• No Completion No Fee: included

A lease extension is the legal process of increasing the number of years remaining on a leasehold property's title. When you buy a leasehold property, you own it for a set term — typically 99, 125 or 999 years. As that term reduces, so does your property's value, your ability to sell and your ability to remortgage.

Extending the lease restores the term, usually to 90 years above the current remaining term (for flats under the statutory route), and eliminates or reduces the ground rent to a peppercorn.

The single most important factor in lease extension timing is the 80-year threshold.

Once your lease falls below 80 years, marriage value applies. This is an additional charge — split 50/50 between you and the freeholder — calculated on the increase in your property's value that results from the extension itself. On a property worth £400,000, marriage value can add thousands to the premium.

The closer to 80 years you leave it, the more expensive the extension becomes. Most solicitors and surveyors recommend extending when you have at least 85-90 years remaining, to give you time to complete the process before crossing the threshold.

If you are buying a leasehold property with fewer than 85 years on the lease, you should factor extension costs into your purchase price. Our buyers conveyancing service includes advice on leasehold considerations at the outset.

Total lease extension costs typically range from £8,000 to £25,000+, depending on:

• Your property's current market value
• The number of years remaining on the lease
• Whether marriage value applies (sub-80 years)
• The ground rent level

The main components are:

The premium is calculated by a specialist surveyor using an RICS-approved formula. The shorter the lease and the higher the property value, the larger the premium.

There are two ways to extend a lease: informally or through the statutory process.

Informal route You approach the freeholder directly and negotiate terms without serving formal legal notices. This can be quicker and less expensive, but you have no legal protection — the freeholder can withdraw, change terms or drag out negotiations. There is also no obligation on the freeholder to participate.

Formal (statutory) route Under the Leasehold Reform, Housing and Urban Development Act 1993, qualifying leaseholders have the legal right to a 90-year extension (above the unexpired term, for flats) at a peppercorn ground rent. The freeholder cannot refuse. The process is governed by strict timescales and if a price cannot be agreed, either party can apply to the First-tier Tribunal (Property Chamber) for a determination.

Most solicitors recommend the formal route for the protection it provides, unless the freeholder is known to be cooperative and the lease has plenty of years remaining.

1. Eligibility check — You must have owned the property for at least two years and the original lease must have been granted for more than 21 years.
2. Instruct a surveyor — A specialist RICS surveyor produces a formal valuation to calculate the premium.
3. Section 42 notice — Your solicitor serves the formal notice on the freeholder, triggering the statutory timetable.
4. Counter-notice — The freeholder has two months to respond. They must admit your right to extend and may propose a different premium.
5. Negotiation — Solicitors and surveyors on both sides negotiate the premium and lease terms.
6. Tribunal (if needed) — If agreement cannot be reached, either party can apply to the First-tier Tribunal for an independent determination.
7. Completion — The new lease is executed and registered at the Land Registry.

The process typically takes 3 to 6 months, though complex cases or disputed premiums can take longer.

The Leasehold and Freehold Reform Act 2024 introduced several significant changes for leaseholders in England and Wales. The most notable for lease extensions are:

• Marriage value abolition — The Act removes the requirement to pay marriage value for statutory lease extensions. This is a significant saving for leaseholders with sub-80-year leases. Implementation timescales are subject to secondary legislation, so if you have a short lease, it is worth discussing timing with your solicitor.
• Standard term increase — The standard statutory extension term for flats increases from 90 to 990 years.
• Ground rent — Ground rent on extended leases is reduced to a peppercorn.

These changes make extending earlier or waiting a more nuanced decision than it was previously. Our solicitors can advise you on the best approach given your specific lease length and property value.

Marriage value is the increase in a property's combined freehold and leasehold value that results from extending the lease. Under the previous rules, once a lease fell below 80 years, the freeholder was entitled to 50% of this uplift — known as marriage value — on top of the standard premium.

For example, if a property was worth £300,000 with 72 years on the lease but £340,000 with a new extended lease, the £40,000 uplift is the marriage value. The leaseholder would pay 50% (£20,000) to the freeholder in addition to the standard premium.

Under the Leasehold and Freehold Reform Act 2024, marriage value is being abolished for statutory extensions, though implementation is phased. We will advise you on whether it applies to your transaction.

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Our conveyancing solicitors are regulated under the Solicitors Regulation Authority (SRA) and Council for Licensed Conveyancers (CLC). 

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