Leasehold Extension - Valuation
An outline of the valuation principles to determine the price for extending a lease of a flat under the Leasehold Reform Housing and Urban Development Act 1993.
No, you can negotiate informally with your landlord to extend your lease, either on the same terms as under the Act or on different terms. If you cannot agree the terms you will not be able to go to the First-tier Tribunal (Property Chamber) unless you have applied to extend your lease under the Act.
Download a template informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat
Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
More information you might find useful:
- Lease Extension – Getting Started
- Application to the First-tier Tribunal (Property Chamber)
- I am in dispute with my landlord but I do not want to go to Court or Tribunal. Is there an alternative?
- More Frequently Asked Questions on Lease Extension
- Lease Extension Calculator
Still not found the answer?
Contact LEASE to have your enquiry dealt with by one of our experienced advisers