Leasehold Extension Valuations with Pro-Leagle
- Pro-Leagle provide Leasehold Extension Valuation Reports Nationwide detailing the accurate cost of your Lease Extension.
- This satellite site is all about Leasehold Extension Valuations for residential leasehold property. However, we also offer a full range of Leasehold and Landlord & Tenant services.
- Interested? Then visit Pro-Leagle HQ.
Compensation Due to the Freeholder
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)
Determining the Cost of Lease Extension
The value of your Lease Extension is hence 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
A ballpark figure for the cost of Leasehold Extension can be obtained from Pro-Leagle's:
Ballpark Valuation Calculator
Otherwise, you can learn more about the valuation process:
Leaseholder Information
Freeholder Information