A lease extension is the process of increasing the number of years on your leasehold property's existing lease agreement.
If you own a leasehold property, extending your lease is an important step in protecting your investment and maintaining your home's value.
Our expert lease extension services provide you with everything you need to understand the leasehold extension process, the costs involved, and how to successfully extend your lease.
Why use Homeward Legal for your lease extension?
We've established an excellent reputation you can trust and helped over 30,000 customers in the past 13 years.
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Why extend your lease?
- Protect property value: A short lease significantly decreases your property's value.
- Avoid higher costs: Leases below 80 years can incur additional fees like marriage value (explained below).
- Ease of sale: A property with a longer lease is much easier to sell or remortgage.
How much does a lease extension cost?
One of the most common questions we get is: How much does a lease extension cost? Unfortunately, there's no fixed answer as it depends on several factors, including:
- Current lease length: The shorter the lease, the higher the extension cost.
- Property value: The premium will be calculated based on the value of your property.
- Ground rent: High ground rent levels can affect the cost.
If your lease has fallen below 80 years, you'll also need to factor in marriage value—a legal term that refers to the increase in the property's value when the lease is extended.
Marriage value can make extending a lease more expensive, so it's advisable to extend your lease before it drops below 80 years.
Learn more about how much it costs to extend a lease in our guide.
How long does a lease extension take?
The timeline for a lease extension can vary depending on the complexity of the case and the responsiveness of the freeholder.
On average, the process takes between 3 to 6 months, though some cases may take longer if negotiations are prolonged.
How to extend a lease: the leasehold extension process
The process of extending your lease can seem complex, but we're here to simplify it for you. Here's an overview of how it works:
- Eligibility check: To extend your lease, you must have owned your property for at least two years and the original lease term should be more than 21 years.
- Valuation: The cost of your lease extension is determined by a formal valuation, which considers your property's current market value and the length of time remaining on your lease.
- Negotiation: Once the valuation is complete, negotiations with the freeholder (landlord) begin to agree on the premium (the cost of the lease extension).
- Legal process: A lease extension solicitor will manage the legal paperwork to ensure everything is properly documented, and the new lease is registered with the Land Registry.
- Completion: After negotiations and legal formalities, your new extended lease will be finalised, and you can continue enjoying your property with peace of mind.
What is marriage value in lease extensions?
Marriage value is an additional cost that comes into play when your lease falls below 80 years. It reflects the increased value of your property once the lease is extended.
Under UK law, the freeholder is entitled to a portion of this value increase, making the extension more expensive.
This is why many property owners choose to extend their lease before it drops below 80 years.
Ready to extend your lease?
Don't wait until your lease drops below 80 years. Act now to avoid additional costs and complications.
Get in touch with our experienced team by calling us on or get a free quote online and find out how much your lease extension will cost.
Common questions about lease extensions
Frequently asked questions...
In most cases, the costs associated with extending a lease are not tax deductible for personal property owners.
However, if the property is an investment or buy-to-let, there may be certain tax implications. It's best to consult with a tax advisor for your specific situation.
In most cases, lease extensions cannot be refused if you meet the eligibility criteria (owning the property for at least two years).
However, disputes over the cost or terms can arise.
In such situations, negotiations may be required, and an experienced lease extension solicitor can help resolve these disputes.
Extending a lease involves legal complexities, particularly when dealing with issues like marriage value or ground rent increases. Hiring a specialist lease extension solicitor ensures that:
- Your rights as a leaseholder are protected.
- All legal paperwork is properly handled and registered.
- The negotiations with your freeholder go smoothly.
Our expert solicitors have extensive experience in the lease extension process and will guide you through each step with minimal hassle.
