A digital tool designed to provide an estimate of the potential cost associated with extending the term of a residential property lease in the United Kingdom. This calculation typically factors in variables such as the property’s current market value, the ground rent payable, and the unexpired term of the existing lease. The results offer a preliminary understanding of the financial implications involved in securing a lease extension.
Access to a reliable cost projection enables leaseholders to make informed decisions regarding their property ownership. It facilitates proactive financial planning, allowing individuals to budget effectively and consider all relevant factors before initiating formal negotiations with the freeholder. Historically, the complexities of lease extension valuations have often presented a challenge for leaseholders; these tools offer increased transparency.
