Lease Extension Valuation in Gillingham
Why Lease Extensions Matter in Gillingham
If you own a leasehold flat in Gillingham, understanding your lease term and the cost of extending it is crucial. Many flats in the area were originally granted 99-year leases, and as they drop below 85 years, leaseholders face rising costs and reduced marketability. Once a lease drops below 80 years, marriage value becomes payable to the freeholder, significantly increasing the cost of extending.
At Olden Property, we specialise in providing RICS-compliant lease extension valuation reports across Gillingham, Hempstead, Rainham, and the wider Medway towns. Whether you’re planning to sell, refinance, or future-proof your property, early action can save you thousands
Why Act Now?
Lease extension costs rise sharply the closer your lease gets to 80 years. Below this threshold, buyers may struggle to obtain a mortgage, and you’ll have to share the property’s uplift in value (marriage value) with the freeholder. Acting sooner means lower premiums and a stronger position in negotiations.
What We Offer:
✔️ RICS-compliant lease extension valuations
✔️ Advice on both statutory (Leasehold Reform, Housing and Urban Development Act 1993) and informal routes
✔️ Full calculations including marriage value, hope value, and relativity adjustments
✔️ Assistance liaising with your solicitor and negotiating with the freeholder
✔️ Transparent fixed fees and quick report turnaround (typically within 5 working days)
Local Expertise Across Medway
We regularly assist leaseholders in the following Gillingham and Medway postcode areas:
ME7 – Gillingham Central, Brompton, Grange Road
ME8 – Hempstead, Rainham, Parkwood
With a deep understanding of local sale evidence and freeholder expectations, we ensure your valuation is robust, accurate, and defensible.
Need Help with a Lease Extension in Gillingham?
Whether you're:
Selling your flat and need a Section 42 notice
Buying a short lease and want to calculate the premium
Seeking a lease extension to protect long-term value
We’re here to guide you through the process and provide clear, professional advice every step of the way.
“If you own a flat in Gillingham with a lease approaching 80 years or fewer, it’s important to act early. Once your lease drops below this threshold, the cost of extending it increases significantly due to the introduction of marriage value. Renewing your lease before reaching this point can save you thousands and help maintain your flat’s marketability to buyers and mortgage lenders.
For freeholders in Gillingham who receive a Section 42 Notice, obtaining a professional valuation is essential to ensure fair compensation for the lease extension and the loss of future ground rent income.
At Olden Property, we assist both leaseholders and freeholders throughout the lease extension process, delivering RICS-compliant valuations and expert negotiation support in line with the Leasehold Reform Act 1993.”
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