Leasehold Advisory Service

The leasehold advisory service extension calculator is a useful tool to help you work out the cost of extending your lease. It can give you a ballpark estimate of how much this will cost, but it is no substitute for an independent surveyor’s opinion and we recommend that you seek professional advice before committing to a lease extension.

The Leasehold Services calculator is one of many tools it offers to help you understand leasehold property. It is a resource that is regularly reviewed and amended when valuation principles change.

There are a number of ways to extend your lease. First, you can ask your freeholder to do so. It can be a long process, so it’s best to get started as soon as you know you’re going to need it.

The Leasehold Advisory Service Extension Calculator

Second, you can try to buy the freehold of your building, either by yourself or with a group of other owners. This is known as a ‘collective enfranchisement’, and it can add significant value to your home.

This is a complex process that requires the services of a solicitor and a surveyor, and will involve a lot of work. You should make sure you have enough money set aside to cover these costs.

Third, you can apply to the court for a leasehold revaluation of your property. This can be a complicated process that involves serving notices on both your landlord and other owners of the property. The process can take some time, but it’s important to remember that you will need to show a reasonable reason why the change is needed.

Lastly, you can also negotiate with your landlord to vary your lease in certain circumstances. This can be a complex and expensive process, so it’s best to get help from the Leasehold Advisory Service.

The LAS website has detailed information about a range of issues, including varying your lease and evicting you by default. You can also contact Citizens Advice or your local councillor for more advice.

There are also online lease extension calculators, which can be useful but can be inaccurate because they are based on national data and may not take local factors into account. It’s also worth checking with your neighbours to find out if they have extended their leases, as this will provide a better indication of what it might cost you.

Extending a lease can be a very expensive process, but it is often one that is worth the effort. It can help to ensure that your home remains in good condition, and also increase the overall value of the property.

In England and Wales, you have the right to extend your lease for 90 years under statutory law. During this period, you will not have to pay ground rent, and the length of your new lease will be increased by 90 years, in return for a ’premium’ payment.

As with any legal case, the premium will depend on your individual circumstances and will need to be calculated using a combination of statutory methods. This will include a calculation of a percentage of the total value of your property and the years remaining on your lease. The amount you will have to pay will be dependent on whether you are paying the premium out of your own pocket or if you have to contribute it towards the cost of the lease extension.