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.
If you are using the Leasehold Reform, Housing and Urban Development Act 1993 the landlord is permitted to make certain variations to the lease so long as they are in accordance with the provisions of Section 57 of the Act.
If you are extending a lease by private negotiation there are no rules because you are acting outside of the provisions of the Act. You can try to negotiate with the landlord and if they insist on varying the lease you can either accept their offer or proceed using the Act if applicable.
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
- Lease Extension Calculator
- More Frequently Asked Questions on Lease Extension
- Information on the 1993 Act on legislation.gov.uk (external link)
Still not found the answer?
Contact LEASE to have your enquiry dealt with by one of our experienced advisers