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Lease Extension Solicitors
Discovering that your lease term is running low can be a worrying moment. For flat owners and leaseholders, a short lease can affect your ability to remortgage, reduce the value of your property, and complicate any future sale. The closer your lease gets to the 80-year mark, the more urgent the situation becomes.
Our residential property solicitors specialise in lease extensions for leaseholders across England and Wales. Whether you’re planning to sell, remortgage, or simply want to protect the value of your home, we’ll guide you through the statutory and informal routes available to you. We explain your options clearly, handle the legal formalities, and work on your behalf to achieve the best possible outcome.
Rest assured that whether your situation is straightforward or complex, our lease extension solicitors will give you the practical, proportionate support you need at every stage.
Our lease extension solicitors can help with:
- Statutory lease extensions
- Informal lease extensions
- Lease extension valuations
- Serving a Section 42 Notice
- Negotiating and completing your new lease
- Lease extensions connected to a sale or purchase
Speak to our lease extension solicitors today
To speak with a specialist about extending your lease, please call 0208 680 5018 or contact your nearest Atkins Hope office in Croydon, Medway, Blackheath or Guildford.
If you’d prefer to make an enquiry online, use our online enquiry form and a member of our team will respond promptly.
What is a lease extension?
When you own a leasehold property, you own the right to occupy that property for a set number of years, but not the land itself. As time passes, the remaining term on your lease decreases. A lease extension adds years to that remaining term, protecting your property’s value and keeping it attractive to mortgage lenders and buyers.
Leases with fewer than 80 years remaining become increasingly difficult to mortgage, and many buyers will not purchase a property with a short lease. The shorter the term, the more expensive it can become to extend, which is why acting early is so important.
Statutory vs informal lease extensions
Statutory lease extension
Under the Leasehold Reform, Housing and Urban Development Act 1993 (the 1993 Act), qualifying leaseholders of flats have the right to extend their lease by 90 years on top of the existing remaining term. The extended lease will also carry a peppercorn rent, meaning effectively no ground rent is payable.
To qualify, you must have owned the property for at least two years. The statutory route gives you certainty: your freeholder cannot refuse, and if you can’t agree on the premium (the price paid to extend), an independent tribunal can determine it.
Informal lease extension
Rather than following the formal statutory process, you can negotiate directly with your freeholder to agree a lease extension on mutually acceptable terms. This can be quicker and more flexible, but there’s no legal obligation on the freeholder to agree, and the terms offered may not match what you’d achieve through the statutory route.
We’ll advise you on whether an informal approach is suitable and represent you in negotiations to make sure any agreement properly protects your interests.
The lease extension process
Lease extension valuation
Before serving any formal notice, you’ll need a valuation from a surveyor who is a member of the Royal Institution of Chartered Surveyors (RICS). The valuation determines the premium you should pay to extend your lease. It takes into account factors such as the current lease length, the property value, and the ground rent payable.
Getting the valuation right from the outset puts you in a stronger position when negotiating with your freeholder. We work alongside experienced surveyors and can help you instruct the right professional for your circumstances.
Section 42 Notice
Under the statutory route, the process formally begins when your solicitor serves a Section 42 Notice on your freeholder. This notice, made under the 1993 Act, sets out your intention to extend the lease and proposes the premium you’re willing to pay.
Once the Section 42 Notice has been served, your freeholder has two months to respond with a counter-notice. We prepare and serve the notice accurately to ensure it’s legally valid, as any errors can seriously affect your claim.
Negotiation and completion
After the counter-notice is received, a period of negotiation begins. Both parties, through their solicitors and surveyors, work to agree the premium and the terms of the new lease. If agreement can’t be reached, either party may apply to the First-tier Tribunal (Property Chamber), an independent body that determines lease extension disputes.
Once the terms are settled, we handle the drafting and completion of the new lease and ensure your title is updated at HM Land Registry.
How much does a lease extension cost?
The cost of a lease extension includes several elements: the premium paid to the freeholder, your solicitor’s fees, the surveyor’s valuation fee, and a contribution to the freeholder’s reasonable legal and valuation costs.
The premium varies depending on your lease length, property value and ground rent. Where a lease has fewer than 80 years remaining, marriage value applies. Marriage value is the additional value created by extending a short lease, and under the statutory route, half of this amount must be paid to the freeholder. This is one of the main reasons why acting before you reach 80 years is so important.
We offer fixed-fee lease extension services so you can budget with confidence. We’ll set out all costs clearly at the outset, with no hidden charges.
Why choose Atkins Hope for your lease extension?
Our residential property team has extensive experience advising leaseholders on all aspects of lease extensions. We take the time to understand your situation, explain your options and handle the legal process efficiently and thoroughly.
With offices in Croydon, Medway, Blackheath and Guildford, we’re well placed to support leaseholders across the South East. Fixed-fee options, clear communication and a genuine commitment to protecting your property interests set us apart.
Frequently asked questions on lease extensions
How long does a lease extension take?
A statutory lease extension typically takes between three and 12 months, depending on how quickly the parties can agree on the premium and terms. Cases where agreement is reached without a tribunal application tend to complete more quickly. We’ll give you a realistic timeframe once we understand your circumstances.
Do I need a solicitor for a lease extension?
While you’re not legally required to instruct a solicitor, a lease extension is a complex legal transaction with strict procedural requirements. Errors in the Section 42 Notice or in the new lease itself can be costly to correct. We strongly recommend instructing an experienced lease extension solicitor to protect your position throughout.
What happens if my lease falls below 80 years?
Once a lease drops below 80 years, marriage value becomes payable, which significantly increases the premium you’ll need to pay to the freeholder. A short lease is also harder to sell and more difficult to mortgage. Acting before you reach the 80-year mark can save you a considerable sum.
Can I extend my lease if I am selling my property?
Yes. You can begin the statutory lease extension process and then assign, meaning transfer, your right to the extension to the buyer. This can make your property more attractive to buyers who might otherwise be concerned about a short lease. We can advise you on the best approach if you’re planning to sell.
What are the solicitor fees for a lease extension?
Solicitor fees vary depending on the complexity of the matter and whether the extension is statutory or informal. We offer fixed-fee lease extension services and will provide you with a clear costs estimate at the start of your matter, so there are no surprises.
Am I eligible for a statutory lease extension?
To qualify for a statutory lease extension under the 1993 Act, you must be the leaseholder of a flat and have owned the property for at least two years. Most residential flat owners meet this criterion, but we’ll confirm your eligibility when you get in touch.
Contact our lease extension solicitors today
To speak with a specialist about extending your lease, please call 0208 680 5018 or contact your nearest Atkins Hope office in Croydon, Medway, Blackheath or Guildford.
If you’d prefer to make an enquiry online, use our online enquiry form and a member of our team will respond promptly.
