How Lease Extensions Work in Maidstone – And Why Timing Matters
If you own a leasehold flat in Maidstone, understanding the length of your lease and acting before it becomes too short could be one of the most important financial decisions you make. Many flats across Maidstone were sold on 99-year leases, particularly in areas like Springfield, Loose, Bearsted, and the town centre. Now, decades on, a significant number of leases are nearing the critical 80-year threshold.
At Olden Property, we specialise in providing RICS-compliant lease extension valuations to help leaseholders across Maidstone and Kent protect their investment and avoid unnecessary costs.
Why Lease Length Matters
When your lease drops below 85–90 years, some lenders start to get nervous — but it’s 80 years that’s the key tipping point. Once your lease falls under this threshold:
Marriage value becomes payable – an additional premium required by law that increases the cost of extending
Your flat may become harder to sell or remortgage
Buyers may demand discounts or walk away entirely
Extending your lease before it reaches 80 years can save you thousands and make life far easier if you plan to sell, refinance, or stay long-term.
Leasehold Flats in Maidstone: A Growing Market
Maidstone’s leasehold market has grown significantly in recent years, particularly in:
Springfield & Penenden Heath – popular with commuters and young professionals
Loose & Loose Valley – with many converted maisonettes and older flats
Bearsted & Allington – a mix of retirement and modern leasehold developments
Town Centre (TN23) – including recent new-build flats and converted buildings
Whether you’re in a post-war block, a Georgian conversion, or a modern apartment, lease length can affect value.
What’s Involved in a Lease Extension?
Under the Leasehold Reform, Housing and Urban Development Act 1993, qualifying leaseholders have a legal right to:
Extend the lease by 90 years
Reduce ground rent to £0 (a peppercorn)
Pay a premium based on market value, lease length, ground rent, and marriage value
The process typically involves:
Valuation – to assess the likely premium payable
Section 42 Notice – served by your solicitor to formally start the process
Negotiation – with your freeholder based on the valuation
Completion & Registration – once terms are agreed
At Olden Property, we assist with step 1: providing an accurate, independent valuation to help you negotiate confidently and avoid overpaying.
What Will It Cost?
The cost depends on the length of the lease, the amount of ground rent, and the market value of your flat. As a rough guide:
Leases over 85 years: typically lower cost
Leases under 80 years: expect to pay significantly more
Short leases (under 70): premiums can rise sharply
You’ll also need to budget for your solicitor’s fees and the freeholder’s reasonable legal and valuation costs (as required under the Act).
How Olden Property Can Help
We offer:
Fixed-fee lease extension valuations
Marriage value and relativity analysis
Reports suitable for statutory or informal negotiations
Advice throughout the process, working alongside your solicitor
Local knowledge of Maidstone’s leasehold market
We cover all areas of ME14, ME15, and beyond.
Get in Touch
If your lease is approaching 80 years — or already below it — now is the time to act. We’re here to help you take control and protect your flat’s long-term value.