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How much does it cost?

Premium

When you extend your lease you will pay your Freeholder in exchange for a longer lease. This is called the premium.

There are various calculations to establish the cost of the premium, but ultimately it will be negotiated between you and the freeholder

Leasehold Renewal Costs

Freeholder’s Costs

When you extend your lease you have to pay your Freeholder’s valuation and legal fees as well as your own.

You can negotiate with your Freeholder as to what you believe is reasonable.

Valuation Fee

You will have to pay to have your property valued and the cost of your lease extension estimated

Negotiation Fee

You will have to pay for a representative to negotiate with your Freeholder

Legal Fees

You will have to pay for your formal notice to be prepared and served, and for the draft lease to be reviewed and registered

Adminstration Fees

You will have to pay various administrative charges. These include the cost of registering your lease at the land registry and having various checks made through the process.

Tribunal

If you can’t agree a Premium with your freeholder during informal negotiations you can apply to have the Premium decided at Tribunal. This is really uncommon as it is expensive for both you and your freeholder. The price of going to tribunal is not included within our price.

Start today with a free consultation

Book a time at your convenience to talk about your leasehold.

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