Lease Extensions in Sevenoaks: What Flat Owners Should Know
Sevenoaks remains one of Kent’s most sought-after towns, thanks to its green spaces, schools, and swift trains into London. But along with its growing popularity, many leasehold flats in Sevenoaks especially those built in the 1980s and 1990s are now facing an issue many owners overlook: shortening leases.
If your lease has fewer than 90 years remaining, it’s worth paying close attention. Once it dips below 80 years, the cost to extend jumps significantly, and it can affect everything from your flat’s value to how easily it can be sold or remortgaged.
Why It’s Crucial Not to Delay
Most flats were originally sold on 99- or 125-year leases. While that might sound long enough, time catches up quickly — and leases in the low 80s are now common in Sevenoaks areas like Bat & Ball, Riverhead, and St John's.
Once your lease hits 80 years or fewer, marriage value kicks in — a legal requirement that increases what you must pay to the freeholder. This additional charge can run into the thousands, so extending your lease before reaching this threshold can save you money and stress.
The Process, in Brief
Extending your lease typically follows a statutory route under the Leasehold Reform, Housing and Urban Development Act 1993, if you’ve owned your flat for at least two years. Here's how it works:
Valuation – A formal lease extension valuation is carried out by a qualified surveyor (like us) based on ground rent, lease length, and property value.
Serving Notice – Your solicitor issues a Section 42 notice to the freeholder.
Negotiation – The freeholder replies with their counter-premium, and negotiations begin — backed by our valuation.
Legal Completion – Once agreed, solicitors finalise the new lease.
What Will It Cost?
The final premium depends on several factors:
Remaining lease length
Annual ground rent
Market value of the flat
Whether marriage value applies
In addition to the premium, budget for:
A surveyor’s report (we offer fixed fees)
Solicitor’s fees
The freeholder’s legal and valuation costs
Tip: It’s nearly always cheaper to extend at 82 years than to wait until you hit 78.
Recent Examples in Sevenoaks
Dunton Green – A two-bedroom flat with 84 years left on the lease was extended early, avoiding over £3,000 in additional marriage value.
TN13 Sale – A buyer’s mortgage was at risk due to a short lease. Our team delivered the valuation within 48 hours, ensuring the transaction proceeded smoothly.
Unsure Where You Stand?
If you’re not sure how many years are left on your lease — or what it might cost to extend — we’re happy to take a look. At Olden Property, we specialise in independent, RICS-regulated lease extension valuations across Sevenoaks and surrounding villages, from Chipstead and Kemsing to Otford and Seal.
Olden Property – Clear advice, fixed fees, and local expertise you can trust.