Leaseholders' handbook - lease extensions

Leaseholders who have owned their home for at least two years have a right to a new lease. This would normally be granted for 90 years plus the present term still left to run.

There are certain conditions you will need to meet, and it is important that you get independent legal and valuation advice to check if you qualify and to help you with the process.

You will be responsible for paying our reasonable legal and valuation costs, whether or not you extend the lease. We are also entitled to ask you for a deposit.

This may be 10% of the premium you plan to pay for extending the lease or £250, whichever is greater.

If you and your landlord cannot agree to the price for extending the lease the Leasehold Valuation Tribunal will decide.