A residential lease is granted for a specific term. At the expiration of this term, the property reverts to the landlord. Once a lease has been granted the term immediately begins to get shorter. Qualifying leaseholders can buy, at a fair price, 90 years to add on to what is left on their existing lease. To qualify you must have owned the property for at least 2 years.
It is always advised that the lease is extended before less than 80 years remain on the lease before marriage value is payable, which drastically increases the price of the extension. Please contact us if you need further advice or please visit: https://www.lease-advice.org/fact-sheet/lease-extension-flats/