How much will it cost you to extend your lease? Get an estimate using our lease extension calculator.
The first step in the lease extension process is having a valuation carried out to assess the likely premium payable. Even if you decide to proceed with a voluntary lease extension we would advise you to still take valuation advice to make sure the premium your freeholder is voluntarily offering is a “good deal”.
Instruct an experienced valuer in the enfranchisement field to get reliable advice. It is also important to highlight that when making an offer under the 1993 Act the offer must be a bona fide offer – i.e. a genuine offer. An expert valuer will be able to advise what offer should be made and the lease extension calculator below is just a guide.
Use the lease extension calculator below to obtain an indication of the premium that may be payable for your lease extension.
For further advice or to discuss any queries you may have, please call 020 7485 8811 and ask for our specialist lawyers Guy Osborn or Amber Larner-Bird
Latest Lease Extensions News
Latest advice from Government – buyers urged not to move home during the Coronavirus pandemic
Speaking to the onthemarket.com today Simon Nosworthy, Head of Residential Conveyancing at Osbornes Law said: “If parties have exchanged contracts and are completing soon we are doing everything we can to listen to our clients and their requirements, but also ensuring that they understand the advice from the government and following this as best they […]
Read MoreCo-buying a property with friends – the pros and cons
For many young people getting on the property ladder is just a dream, with spiralling house prices making it impossible for many to buy a home. As a result, more and more are pooling their financial resources with friends to co-buy a property. But what do you need to do and is this a safe […]
Read MoreNew Year, New Lease – Leasehold Reforms
Following consultation, in 2018, and having received over 2600 responses to the consultation, on the 9th January 2020 the Law Commission published its recommendations for simplifying the process by which Tenants can acquire their freeholds or extend their leases. The aim of the reforms are to make it simpler and cheaper for Tenants to buy […]
Read MoreFirst-time buyer stamp duty exemption – don’t get caught out
By Simon Nosworthy, Head of Residential Conveyancing at Osbornes Law Stamp duty is the bane of every home buyer, with only first-time buyers being exempt from paying the tax, if they purchase properties for less than £300,000. The first-time buyer stamp duty exemption has undoubtedly helped increase the number of people getting on the property […]
Read MoreEMA Decision: Permission Granted to Appeal
On the 1st March the EMA was granted permission to appeal on condition that they continue to comply with their lease obligations pending any appeal. The property sector will therefore need to wait to see if the EMA pursue an appeal and if so, whether their efforts will result in the decision of Judge Marcus […]
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