Leasehold Extension Valuations with Pro-Leagle
- Pro-Leagle provide Leasehold Extension Valuation Reports Nationwide detailing the accurate cost of your Lease Extension.
- Our valuations are suitable for statutory Lease Extensions. They are also a good starting point for informal negotiations.
- You should always obtain a professional valuation whether negotiating to buy or grant a lease extension. This could save you thousands. Still not sure if it's worth it?
Determining the Cost of Lease Extension
The value of a Lease Extension is calculated using several key pieces of information:
- The annual ground rent paid to the Freeholder for usage of the land on which the property is built.
- The number of years remaining before expiration of the lease
- The value of the property and any improvements made to it
- The location of the property
Learn more about the valuation process:
What Do Leaseholders Pay for When Extending a Lease?
When carrying out a Statutory Lease Extension the Leaseholder must provide financial compensation to the Freeholder for:
- The reduction in the Freeholder's reversionary interest (the Freeholder will need to wait longer to gain possession of the property)
- Ground rent owed to the Freeholder under the existing terms of the lease (this will be reduced to peppercorn rent after lease extension)
A ballpark figure for the cost of Leasehold Extension can be obtained using Pro-Leagle's Ballpark Valuation Calculator