Lease extension research
Extending a flat lease — when, how and roughly what to check.
Professional analysis
The statutory process (Leasehold Reform, Housing and Urban Development Act 1993) is being reformed by the Leasehold and Freehold Reform Act 2024 — including eligibility and valuation (e.g. marriage value and standard 990-year extensions). Some provisions are in force and others await commencement; check the current position. Plotlumen does not calculate premiums — instruct a specialist valuer.
Capital requirements
Premium plus both sides' reasonable costs (under current rules).
Cost assumptions to budget for
- Premium
- Valuer and solicitor fees
- Freeholder's costs where payable
Potential returns
Restored value and mortgageability.
Main risks
- Rules changing during the process
- Disputes going to tribunal
Legal checks
- Statutory notice procedure and deadlines
Regulatory checks
- LFRA 2024 commencement status
Is it suitable?
Often suits
- Flat owners with leases approaching 80 years
A general guide, not a personal recommendation. Suitability depends on your finances, experience and attitude to risk.
Step-by-step
- Confirm unexpired term.
- Read LEASE guidance.
- Get a specialist valuation.
- Serve notice via a solicitor.
Official sources
- The Leasehold Advisory Service (LEASE)
- Leasehold and Freehold Reform Act 2024 — commencement (GOV.UK search)
- Leasehold property (GOV.UK)
Last reviewed 31 Oct 2026. Rules change — check the source before relying on this guide.
Not advice