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Leasehold check

Red flags in a flat’s lease (years left, ground rent, service charge) and an estimate of the cost to extend, under today’s rules and the 2024 Act.

The lease

Years left on the leaseFrom the lease or the title register: original term minus years since it started. Date the lease was granted (if known) Ground rent per year now How does the ground rent change? If it doubles: every how many years? The flat is in Greater London

Values for the extension estimate

Value with a long lease (e.g. 125+ years)Your best estimate: ask a local agent or look at sales of similar flats with long leases. Value with the current leaseUsually the price you are paying. Needed when 80 years or fewer are left. Deferment rate (%) Capitalisation rate (%)

Service charge and building

Service charge per year Is there a reserve (sinking) fund? Any major works planned? Is the building 11 m (5 storeys) or taller?

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For flats in England and Wales. An estimate for reference only: it is not legal advice and not a valuation. Houses use different rules (1967 Act). A solicitor or licensed conveyancer should check the lease, and a RICS valuer should value any extension.

Sources

GOV.UK – Leasehold property: extending, changing or ending a lease · checked 2026-11-05
Leasehold Reform, Housing and Urban Development Act 1993, Schedule 13 (premium, marriage value) · checked 2026-11-05
SI 2025/57 – two-year ownership rule removed from 31 January 2025 · checked 2026-11-05
Leasehold and Freehold Reform Act 2024 (valuation changes not yet in force) · checked 2026-11-05
GOV.UK consultation – Leasehold enfranchisement: valuation rates (15 July 2026) · checked 2026-11-05
Leasehold Reform (Ground Rent) Act 2022 · checked 2026-11-05
GOV.UK – Draft Commonhold and Leasehold Reform Bill (27 January 2026) · checked 2026-11-05
GOV.UK – Leasehold property: service charges and other expenses · checked 2026-11-05
LEASE – Building Safety Act 2022 leaseholder protections · checked 2026-11-05
UK Finance Lenders’ Handbook – leasehold requirements (lender policy) · checked 2026-11-05
LEASE – free lease extension calculator, to compare · checked 2026-11-05

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