What costs should you budget for?

Keep the premium separate from professional fees. Lease Extension Pro’s table is a checklist for requesting itemised quotes for an England & Wales flat—not a schedule of market prices.

Cost componentWhat to askIn our estimate?
PremiumWhat valuation assumptions support the proposed sum?Simplified illustration only; full sum withheld at ≤80 years
Your valuerDoes the fee cover negotiation and a revised valuation?No
Your solicitorDoes the quote cover notices, negotiation, completion and registration?No
Landlord’s costsWhich costs can be recovered under the applicable rules?No
Other chargesAre VAT, registration, searches, any tax or tribunal work additional?No

Source context: LEASE — lease extension, getting started. Have your solicitor confirm the cost rules currently in force.

What affects the premium?

Remaining years, ground rent and the flat’s value are key inputs to the simplified Lease Extension Pro model. The legal valuation can involve more: rent reviews, lease relativity, intermediate interests and other adjustments.

  • Unexpired term: fewer years change the present value of the landlord’s reversion.
  • Ground rent: the amount and any review clauses affect the income being valued.
  • Property value: use a long-lease value, not a short-lease sale price, for this calculator.
  • Valuation assumptions: changing percentage rates changes the result; model defaults are not verified market rates.

Statutory valuation context: 1993 Act, Schedule 13. See our formula and limitations.

A worked premium example—not a fee quote

For a hypothetical flat worth £300,000 with a long lease, 85 years remaining and £200 annual ground rent, the model uses a 7% capitalisation rate, a 5% deferment rate and an additional 90 years.

Ground rent component
About £2,850
Reversion component
About £4,680
Model premium
About £7,530
Professional fees and other costs
Not estimated

First-party mathematical illustration, not a completed transaction. Rounded to £10. Actual valuation and fees may differ materially.

To build a budget, add written fee quotes and applicable charges to a professional premium valuation—not to this model as if it were a firm offer.

Explore the calculator →

Why a short lease needs specialist advice

Under the traditional statutory valuation framework, marriage value can affect shorter leases. Marriage value broadly concerns the increase in combined interests created by the extension. The exact calculation and applicable law require professional assessment.

At 80 years or fewer, no full estimate is shown.

Lease Extension Pro displays only its ground rent and reversion components. Those components must not be treated as the full premium or a minimum offer. Reforms and their commencement have not been verified for this draft.

Primary source: Schedule 13; reform context: 2024 Act.

Questions to ask about professional fees

Request a quote that distinguishes fixed work, hourly work and disbursements. Ask when extra negotiation, a contested notice or tribunal proceedings trigger additional charges. Confirm VAT treatment and payment stages in writing.

Lease Extension Pro does not publish invented “typical” fee ranges. Use our solicitor selection checklist and read how the process works before comparing quotes.