Lease Extensions Explained
Lease extensions can be statutory or voluntary, and a new lease plan is often required. Here is how the process works and where the plan fits in.
Why leaseholders extend
As a lease runs down, the property becomes harder to sell or mortgage and more expensive to extend. Many leaseholders extend well before the term gets short. Extending adds years to the lease and can remove ground rent, protecting the property’s value.
Statutory vs voluntary extensions
A statutory extension is a legal right available to qualifying leaseholders, typically adding a substantial number of years to the existing term on defined terms. A voluntary extension is agreed directly with the freeholder on whatever terms are negotiated. Both result in a new or varied lease that must be registered with HM Land Registry.
Why a new lease plan is often needed
The extended lease must be registered with a compliant plan. A new plan is commonly required where the original plan is missing or non-compliant, where the property has been altered since the original lease, or where the freeholder or Registry asks for an up-to-date plan. Even where a plan exists, a fresh measured plan removes ambiguity.
Keeping the process on track
Lease extensions involve solicitors, valuers and sometimes a tribunal, so timing matters. Having a compliant lease plan ready when needed avoids hold-ups at the registration stage. We liaise with your solicitor or valuer and deliver the plan within your timetable.
Need a lease plan?
We produce Land Registry compliant lease plans across England and Wales. Send us the property details for a fixed-price quote.