Extending a lease can feel complicated, but our experienced lease extension surveyors are here to guide you through every step.
At MAP Surveyors, we help you understand your options, eligibility, and likely costs. Once your qualification criteria are confirmed, we work alongside your solicitor to support the lease extension process from start to finish.
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Our lease advisory services provide guidance on:
Under the Leasehold Reform, Housing and Urban Development Act 1993, qualifying leaseholders have the legal right to extend their lease by an additional 90 years with no ground rent payable upon completion. This is known as a peppercorn ground rent.
Our experienced lease extension surveyors can guide you through the process and advise on eligibility, valuation, and likely costs.
Lease advisory services provide professional advice to leaseholders, landlords and property owners on leasehold matters such as lease extensions, enfranchisement, ground rent, and lease valuations.
It is often recommended to consider extending a lease before it falls below 80 years remaining. Once a lease drops below this threshold, extending it can become significantly more expensive due to marriage value being applied.
Marriage value is the increase in a property’s value following a lease extension. Under current legislation, leaseholders may need to share part of this increase in value with the freeholder when the lease has fewer than 80 years remaining.
Yes, a short lease can reduce a property’s market value and may make it more difficult to secure mortgage lending. Extending a lease can help protect the property’s value and improve marketability.
A professional valuation is often required during the lease extension process to determine a fair premium for extending the lease. A qualified surveyor can provide advice and negotiate on your behalf when required.
The lease extension process can vary depending on the complexity of the case and negotiations involved. In many cases, the process can take several months from the initial valuation through to legal completion.
