What is the price of a lease extension based on?
The price payable for a lease extension includes three elements:
- the reduction in the value of the landlords’ interests in your flat affected by giving you a lease extension of 90 years
- half of any marriage value that may be payable. However, there will be no marriage value payable if your lease has more than 80 years to run
- compensation to your landlord for severance or other losses.