Lease Extension Valuations in Folkestone | RICS Surveyor
Lease Extension Valuations in Folkestone, Kent
Do you own a leasehold flat in Folkestone? If so, understanding the length of your lease is crucial. Many flats across The Leas, Sandgate, East Folkestone, and near the Harbour were sold with 99-year leases in the 1980s or 1990s. These are now starting to drop below 85 or even 80 years, a key threshold in leasehold law.
Once your lease drops below 80 years, the cost of extending it rises sharply due to marriage value, an additional premium payable to the freeholder. At this point, extending becomes significantly more expensive. It can also make it harder to sell or remortgage your flat, as lenders are cautious about short leases.
At Olden Property, we specialise in providing clear, fixed-fee lease extension valuations to leaseholders in Folkestone and the surrounding area. Acting early can save you thousands and protect the future value of your flat.
Why Choose Olden Property for Your Lease Extension Valuation?
RICS Registered Valuer – All reports are prepared by a fully qualified RICS Registered Valuer in line with Red Book standard
Specialist Local Knowledge – We know the Folkestone property market inside out, from sea-view flats near The Leas to modern blocks in East Folkestone and period conversions in Sandgate
Transparent Fixed Fees – No hidden extras. Our pricing is clear, with a full breakdown provided upfront
Prompt Turnaround – We understand lease extensions often come with time pressures and can usually turn around reports within a few working days
Support Throughout the Process – Whether you're pursuing a statutory lease extension under the Leasehold Reform Act 1993 or negotiating informally with your freeholder, we provide the expert guidance you need
What’s Involved in a Lease Extension?
The statutory lease extension process gives qualifying leaseholders the right to a 90-year lease extension at a peppercorn ground rent. Key steps include:
Getting a Valuation – This sets the basis for the premium payable
Serving a Section 42 Notice – This formally triggers the statutory process
Freeholder Response & Negotiation – The freeholder issues a counter-notice and negotiations begin
Agreement or Tribunal – If terms can’t be agreed, the matter can be referred to the First-tier Tribunal
We assist at the first step by preparing a professional valuation report, which can be used to inform negotiations and support your solicitor in serving notice.
“If you own a flat in Folkestone with a lease approaching 80 years or fewer, it’s important to act early. Once your lease falls below this threshold, the cost of extending it rises significantly due to the introduction of marriage value. Renewing your lease before this point can save you thousands and maintain your flat’s appeal to buyers and lenders.
For freeholders in Folkestone who receive a Section 42 Notice, obtaining a professional valuation is key to ensuring fair compensation for the lease extension and the loss of future ground rent income.
At Olden Property, we support both leaseholders and freeholders through the lease extension process, providing RICS-compliant valuations and negotiation guidance in line with the Leasehold Reform Act 1993.
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