Lease Extensions in Kingston - Lewis & Dick Solicitors

• 8th April 2025
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Extending your lease is an important consideration for property owners in Kingston, UK, especially as the remaining term on a lease begins to shorten. If your lease has less than 70 years left, many mortgage lenders may refuse to offer financing, which can significantly reduce the pool of potential buyers should you wish to sell. This can affect not only your ability to remortgage or sell the property, but also its overall market value. For prospective buyers, a short lease can be a red flag and a costly problem to address later, making your property less attractive in an otherwise competitive market like Kingston.

It’s also vital to understand that the cost of extending a lease rises significantly once the lease drops below 80 years. At this point, “marriage value” — the increase in property value resulting from a lease extension — becomes payable to the freeholder, which can make the extension much more expensive. For this reason, if your lease has between 80 and 85 years remaining, it’s wise to consider an extension sooner rather than later. Acting early can save you money and help preserve the value of your property in Kingston’s desirable and often high-demand property market.

To get a quote and quality advice please call Jonathan Owens on 020 8393 0055 or click here