The short version
- Below 80 years, 'marriage value' is added to the cost of a statutory lease extension.
- The rule that you must have owned the flat for two years before extending was removed on 31 January 2025.
- The 2024 Act's abolition of marriage value and 990-year extensions are not yet in force.
- You can extend before selling, or start the claim and pass the benefit to your buyer.
Why the length of the lease matters
A lease is a wasting asset: each year the remaining term falls, and so does the property's value. Many mortgage lenders set a minimum remaining term, which narrows the pool of buyers. Under the current valuation rules, once the term drops below 80 years the premium for a statutory extension includes 'marriage value', which can add significantly to the cost.
What the Leasehold and Freehold Reform Act 2024 has, and has not, changed
The Act received Royal Assent in May 2024, but it is being brought into force in stages. As of October 2026, the requirement to have owned a flat for two years before claiming a statutory lease extension has been removed. The headline changes, abolishing marriage value, standard 990-year extensions and new valuation rates, have not yet been brought into force, and the government consulted on valuation rates in 2026. A claim made now runs under the existing rules. Check the latest position with a specialist solicitor before making decisions.
Your options
There are four main routes, each with a different balance of cost, time and price:
- Extend first, then sell. The most attractive option for buyers, but it takes time and you pay the premium and both sides' reasonable costs.
- Serve a formal notice to start the statutory claim, then assign the benefit of that notice to your buyer as part of the sale.
- Negotiate an informal extension with the freeholder. Sometimes quicker, but the terms are not protected in the same way.
- Sell as it is to a cash buyer who will deal with the extension.
Executors and short leases
Personal representatives of a deceased leaseholder can make a statutory claim within two years of the grant of probate or letters of administration. This can be useful if the estate wants to sell a flat with a short lease.
How Verified Property Buyers can help
- We buy short-lease flats and houses as they are, and account for the extension in our offer.
- We can proceed whether or not you have already served notice on the freeholder.
- No seller fees, and we explain how we arrived at our figure.
Want to see what waiting could cost? Try the selling-cost calculator, check recent sold prices, or request a cash offer.
Common questions
Is marriage value abolished?
Not yet. The Leasehold and Freehold Reform Act 2024 provides for it, but that part had not been brought into force as of October 2026.
Do I need to have owned the flat for two years to extend?
No. That requirement was removed on 31 January 2025.