New tool to advise leaseholders on possible extension costs
Summary
LEASE has launched a free online tool for leaseholders in England and Wales to check remaining lease term and estimate lease extension costs, combining its previous lease length checker and calculator. The accompanying analysis suggests around 8% of residential leases have 80 to 90 years remaining, with the highest concentration in London, the South East and Eastern regions.
Why it matters
Lease length is a key factor in valuation, saleability and remortgageability, so surveyors may increasingly encounter clients seeking advice on short leases and extension implications. The article also highlights ongoing leasehold reform, which may affect future advice and market expectations.
Key points
- LEASE has launched a single free online lease length and extension cost tool.
- The tool provides personalised lease term information, cost estimates and guidance on next steps.
- LEASE estimates 8% of residential leases in England and Wales have 80 to 90 years remaining.
- The highest concentrations are in London, the South East and Eastern regions.
- Leasehold and Freehold Reform Act 2024 measures are intended to make lease extension and enfranchisement easier, but some are not yet in force.
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