If you own a leasehold property, the length of your lease matters. A lease term that is running down can affect the value of your home and make it harder to sell or remortgage. Extending your lease in good time may preserve the value of your property and give you peace of mind for the future.
Our residential property team has extensive experience helping leaseholders secure extensions. We explain the process in plain English, deal with the legal detail, and guide you on the best time to act.
When you own a leasehold property, you don’t own the building outright, you own the right to live there for the length of your lease. As the years run down, so does the value of your property.
If your lease has fewer than 85 years remaining, we recommend getting advice on extending it. Extending before you hit these problem points can save you money and stress.
Once your lease drops under 80 years, the cost of extending rises sharply because of something called “marriage value.”
Most buyers (and their lenders) want leases with plenty of time left. A short lease can make your property much harder to sell.
Lenders may refuse to lend on short leases, making refinancing more difficult.
Leaseholders usually have the right to extend their lease by:
Extensions can also sometimes be negotiated informally with the freeholder, but this can be less secure and needs careful legal advice.
Extending a lease can be done in two ways.
We advise on which route suits you best, based on your circumstances.
When you instruct us to extend your lease, we will:
Our role is to take the stress out of the process and make sure your interests are protected.
The cost depends on the length of your lease, the value of your property, and the level of ground rent. We will work with a surveyor who will guide you through the valuation process.
The earlier the better, especially before your lease drops below 85 years. Acting in good time usually saves money.
Not always. Informal extensions are possible but less secure. We will explain the pros and cons of both approaches.
Yes. Previously, you had to own the property for at least two years before qualifying for a lease extension. That rule was removed in February 2025, so it no longer applies.
Yes. A longer lease makes your property easier to sell and more attractive to buyers and lenders.
We have helped clients in situations such as:
“Her kindness and understanding meant she got everyone on her side. She calmly found solutions to problems that seemed impossible. Without her, we would not be in our dream home.”
Clients trust us with lease extensions because we:
If you need advice on any residential matter, please do not hesitate to contact our residential team.
If you are considering extending your lease, or want to know whether now is the right time, we can help.
Gordons Partnership – clarity and confidence in legal advice, from people you can trust.
Call 01483 451900 or make an online enquiry and one of our solicitors will get back to you promptly.
