Leasehold Valuations & Extensions

Valuation

Leasehold Valuations & Extensions

Secure Your Home’s Value with a Lease Extension

Did you know your lease loses value over time? The shorter it gets, the less your property is worth. For example, a home valued at £200,000 with a 100-year lease may drop to £150,000 if the lease falls to 50 years. Acting sooner to extend your lease can save you money and help protect or even increase your property’s value.

Why Extend Your Lease?

Extending your lease not only safeguards your investment but also makes it easier to sell or remortgage in the future. This is known as leasehold value – the impact your lease length has on your property’s worth. A longer lease gives you peace of mind and ensures you get a fair price when it’s time to sell.

Expert Guidance Every Step of the Way

At Watsons, we specialise in helping homeowners like you secure the best possible deal on lease extensions. The process can be complex, which is why we recommend getting expert advice early.

  • A qualified solicitor will guide you through the legal requirements and check if you’re eligible for an extension.
  • An expert valuer (like us!) will calculate the likely cost and negotiate to ensure you get the best possible price.

Whether you own a residential or commercial property, this process known as leasehold enfranchisement, can significantly boost your property’s value.

Leasehold Valuations & Extensions

Leasehold extension and valuation involve extending the length of a property lease and assessing its impact on the property's value to ensure a fair price.

Ideal for

Homeowners, landlords, and property investors with a lease approaching 100 years or less who want to protect or increase their property's value and make it easier to sell or remortgage.

The Leasehold Extension Process

1. Find a Surveyor & Solicitor

Choose a surveyor with leasehold law expertise, like Watsons, with 125+ years of experience. Ensure your solicitor specialises in leasehold enfranchisement.

Freeholder’s Response

The freeholder has 2 months to respond with a counter-notice, typically disputing the price and proposing their own

2. Commission a Valuation

Your surveyor will provide a premium estimate for your lease extension, covering best- and worst-case scenarios, plus an opening offer to the freeholder.

Pay Deposit (if required)

If the freeholder requests it, you’ll need to pay a deposit. This will be the greater of £250, or 10% of the price that you have proposed to pay for the lease extension

Submit Your Claim

Your solicitor will submit a formal notice of claim to the freeholder, including your opening offer for the lease extension.

Negotiate or Apply to Tribunal

Your surveyor will negotiate the final price with the freeholder’s surveyor. If no agreement is reached, you can apply to a Tribunal to decide the price, but this is a costly last resort.

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Key Features

Trusted Experts
We have years of experience helping leaseholders secure the best deals.

Specialist Valuation & Negotiation
Our expert RICS-accredited surveyors ensure you never overpay.

Transparent & Fair Pricing
Clear breakdown of costs, with no hidden fees. 

Dedicated Support
We guide you through every step, making the process simple and stress-free.

Proven Track Record
Hundreds of successful lease extensions completed.

Tailored Advice
Personalised guidance based on your property and lease terms.

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Why Get A Property Valuation?

A property valuation is crucial for a range of situations, from selling your home and setting the right price, to leasehold extensions, matrimonial settlements, and probate purposes. Whether you’re looking to make informed decisions about buying, selling, or managing assets, an accurate valuation ensures you’re not overpaying or undervaluing your property. At Watsons, our experienced RICS-Qualified Surveyors offer professional, tailored valuations that provide clarity and peace of mind for

FAQs

The cost depends on three key factors:

  • The property’s value before and after the lease extension
  • The remaining lease length
  • The ground rent and any future review provisions

Lease extension calculations are complex and subjective, requiring expert knowledge to ensure accuracy. Using an experienced lease extension valuer, like Watsons, helps avoid overpaying or having your claim rejected. The final cost is usually negotiated, but in rare cases, it may be decided by a specialist tribunal.

You can use online lease extension calculators for a rough estimate, but these only provide ballpark figures. If you’re considering an extension, it’s essential to hire a specialist Valuation Surveyor for an accurate calculation. This service typically costs a few hundred pounds but can prevent overpaying and ensure you get the best deal.

Beyond the lease extension itself, you may need to pay for:

  • Legal fees (solicitor)
  • Valuation fees (surveyor)
  • Negotiation fees (usually handled by the surveyor)
  • Your freeholder’s reasonable legal and valuation costs
  • Land Registry fees

Under the Leasehold Reform, Housing and Urban Development Act 1993, most leaseholders have the legal right to extend their lease by 90 years (if it’s a flat) or 50 years (if it’s a house), with ground rent reduced to zero (a “peppercorn rent”). However, lease extensions can sometimes be negotiated privately with the freeholder.

In most cases, you can extend your lease if:

  • You have owned the property for at least two years
  • Your original lease was granted for more than 21 years

If your lease runs too short, your property’s value will decline, making it harder to sell or remortgage. Once the lease drops below 80 years, costs rise significantly due to the added marriage value. If the lease expires completely, ownership may revert to the freeholder.

The process typically takes 6 to 12 months, depending on negotiations with your freeholder. If the case goes to a tribunal, it may take longer. Acting early helps avoid unnecessary delays.

Yes, you can sell your property with the lease extension process already underway. This can make your home more attractive to buyers. Alternatively, you can serve a formal lease extension notice and transfer it to the buyer, allowing them to complete the process after purchase.

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Contact Us for Leasehold Valuation & Extension

Survey Services

An home survey will provide you with a clear understanding of the property’s condition.

Valuation Services

We provide a valuation service that gives our clients confidence they have the full picture.

Commercial Services

We offer a reliable and comprehensive service across all sectors of the commercial markets.

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PLEASE NOTE

Our Offices Will Be Closed Over the Festive Period From the 25th December 2024 - 2nd January 2025​

For out of hours contact/emergencies please see information below:

  • For Tenants/Landlords – Please call our main lettings number – 01603 751555 – and follow the instructions. These instructions will provide you with an out of hours contact number, plus the number of an emergency plumber.
  • For Leaseholders – Please call our main Block & Estate Management number – 01603 226500 – and follow the prompts. Listed are numbers for various contractors, depending on the type of emergency.

From all of us at Watsons, - Have a Merry Christmas and Happy New Year!​