If you are a leasehold flat owner and have owned your property for over two years, you are entitled to extend your lease by 90 years (i.e. on top of your existing term) and to extinguish your ground rent. These types of valuations fall under, and are in accordance with, the Leasehold Reform, Housing and Urban Development Act 1993 (as amended).
If there are less than 85 years remaining on your lease, it is advisable to extend at the earliest opportunity before the cost of extending rises. At under 80 years, the premium will then include marriage value which will increase the premium.
Mr R.S., Seaford
If you are concerned about your lease or are interested in extending, we can offer you clear and professional specialist advice. If you are an owner of a freehold which is subject to long leases, and a leaseholder wishes to extend their lease, we can also offer you clear and professional specialist advice.