Lease extension calculator
Lease extension calculator
An indicative premium for extending the lease on a London flat, based on the years remaining, the value of the flat with a long lease, and the ground rent. Below 80 years marriage value applies and the cost rises steeply.
Indicative premium
£31,833 – £43,069
Plus around £3,500 in professional fees, including the freeholder's reasonable costs.
- Years remaining
- 78
- Relativity used
- 97.6%
- Marriage value
- Payable — fewer than 80 years remain
Indicative only. The real cost depends on a formal valuation by a surveyor and on negotiation with your freeholder.
Indicative only. This is not financial advice, a mortgage offer or a tax computation. Confirm the figures with a qualified broker, solicitor or tax adviser before you commit.
Questions we get asked
- How much does a lease extension cost?
- The premium depends on the years left, the value of the flat and the ground rent. Above 80 years remaining the cost is usually modest; below 80 years marriage value becomes payable and the premium rises sharply, which is why the 80-year mark matters so much.
- What is marriage value?
- Marriage value is the uplift in the flat's value created by extending the lease. Once fewer than 80 years remain, the leaseholder and the freeholder split that uplift equally, so the premium jumps.
- How many years does a statutory extension add?
- A statutory lease extension on a flat adds 90 years to the remaining term and reduces the ground rent to a peppercorn, provided you have owned the flat for at least two years.
- What other costs should I budget for?
- Beyond the premium you pay your own solicitor and valuer, and generally the freeholder's reasonable legal and valuation costs. Allow a few thousand pounds in professional fees on a typical London flat.