Calculator Estimates Are Not Formal Valuations
The lease extension premium estimates produced by LeaseVault are based on the RICS deferment rate methodology using a 5% deferment rate and standard published relativity tables. These estimates are for general guidance only and should not be used as the basis for any legal or financial decision without independent professional verification.
The calculator does not constitute a formal RICS Red Book valuation. Do not rely solely on these estimates when negotiating a premium with your freeholder, serving a Section 42 notice, applying to the First-tier Tribunal, or completing a property purchase or sale involving lease length.
No Legal Advice
Nothing on this website constitutes legal advice. Leasehold enfranchisement is a complex area of law and the specific circumstances of your property and lease may significantly affect your rights and costs. Always instruct a qualified solicitor with specific experience in leasehold enfranchisement before taking any action.
No Financial Advice
This website does not provide financial advice. The financial implications of a lease extension or freehold purchase depend on your individual circumstances. Consult an independent financial adviser if you need guidance on funding arrangements.
Accuracy of Legal Information
We make every effort to ensure articles and guides are accurate and up to date. However, leasehold law is changing rapidly following the Leasehold and Freehold Reform Act 2024. Some provisions are being phased in through secondary legislation. Always verify the current legal position with a qualified solicitor before acting.
RICS Methodology Reference
The 5% deferment rate used in our calculator was established by the Lands Tribunal in Earl Cadogan v Sportelli [2007] 1 EGLR 153 and affirmed by the Court of Appeal. Relativity tables used are based on published industry data. These may be superseded by new prescribed rates under the 2024 Act once secondary legislation is in force.
Where to Get Professional Advice
For free initial guidance, contact the Leasehold Advisory Service (LEASE) at lease-advice.org or call 020 7383 9800. For professional advice, instruct a RICS-registered surveyor and a law firm specialising in leasehold enfranchisement.