Lease Extension Valuation
Understanding how much to pay for a lease extension can be difficult. You may be concerned about a shortening lease, preparing to sell your flat or wondering whether your freeholder’s proposed price is reasonable.
At Vospers Friend & Falcke, our Chartered Surveyors provide independent lease extension valuations to help you understand the likely cost and make an informed decision.
We regularly advise property owners across Central London and the Thames Valley, while also supporting clients across Surrey, Farnham, Guildford, Reading, Cobham, Addlestone, Weybridge, Esher, Oxshott, Surbiton, Kingston upon Thames, Twickenham, Hampton, Wimbledon, Epsom and Richmond.
What is a lease extension valuation?
A lease extension valuation assesses the amount you should expect to pay your freeholder to extend your lease. This payment is called the premium.
The valuation considers your lease terms, the years remaining and relevant property market evidence. It provides a reasoned basis for discussing the price, rather than relying on an online estimate or accepting a figure without independent advice.
The valuation is separate from a building survey, which assesses a property’s condition and defects.
When might you need a lease extension valuation?
Independent advice can be useful if you are:
- Concerned about how many years remain on your lease.
- Planning to sell or remortgage a leasehold flat.
- Considering buying a property with a short lease.
- Reviewing a lease extension offer from your freeholder.
- Preparing to start the formal lease extension process.
A shorter lease can affect a property’s value and the willingness of mortgage lenders to lend against it. Understanding the likely extension cost helps you plan before committing to a purchase, sale or agreement.
We also welcome enquiries from solicitors and other property professionals seeking valuation advice for their clients.
How is the cost of a lease extension calculated?
There is no single price that applies to every property. The assessment takes account of:
- The remaining lease term: how many years are left.
- Ground rent: the rent payable under your lease, including scheduled increases.
- Property value: the relevant value of your flat, including its value with a longer lease.
- Local market evidence: information from comparable properties.
- The applicable valuation rules: including whether marriage value applies.
Marriage value is the increase in combined property interests created by extending the lease. Under the current statutory rules, where 80 years or fewer remain, the freeholder is generally entitled to half of this increase.
The premium is only part of your overall budget. You should also allow for valuation and legal fees and, under the current formal process, the freeholder’s reasonable qualifying legal and valuation costs.
Why choose Vospers for your lease extension valuation?
Independent professional advice
Our role is to help you understand the valuation and make an informed property decision. We explain the reasoning behind our advice so you can assess your options with confidence.
Experienced Chartered Surveyors
Vospers Friend & Falcke brings more than 20 years of surveying experience. Our valuers operate under the RICS Valuer Registration Scheme, with experience across residential and specialist property valuations.
Clear explanations
Lease extensions involve unfamiliar terms and calculations. We explain what matters in plain English and help you understand what the figures mean for your property.
What happens when you contact us?
Tell us your property address, how many years remain on the lease and what you would like to achieve. If you have already received an offer from your freeholder, let us know.
We will discuss the valuation you need and the information required, including your lease and ground rent details. We will also explain the scope of the instruction, fees and expected timescale.
Your valuation provides evidence for discussions about the premium. A solicitor handles the legal process, including checking eligibility, serving notices and preparing the new lease.
Your lease extension questions answered
A calculator can provide an initial estimate. It cannot fully assess your lease, property or local market evidence. A professional valuation gives you a more informed basis for considering an offer or starting negotiations.
Yes. Under the current rules, marriage value can increase the premium when 80 years or fewer remain. Taking advice beforehand gives you time to understand your options. The right timing depends on your lease, plans and the reforms still awaiting implementation.
Currently, qualifying flat owners using the statutory process can add 90 years to their existing lease, with ground rent reduced to zero. An informal extension depends on the terms agreed with the freeholder.
The proposed 990-year statutory extension and removal of marriage value are not yet in force.
No. The two-year ownership requirement was removed on 31 January 2025. Your solicitor should check that you meet the other eligibility requirements.
