Buying or selling a leasehold property

I am buying / selling a leasehold property with a short lease
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buying a leasehold property with a short lease?

When purchasing a leasehold property your solicitor should advise you on the terms of the lease, the ground rent and how long is left. The agent does not always do this and are sometimes wrongly advised by the vendor.

When leasehold properties have 90 years or less remaining, the value of the lease decreases and at 80 years it becomes significantly more expensive to extend the lease.

If you are thinking of buying a leasehold property with less than 90 years remaining, it may still be a good investment at the right price, however, the price you pay may itself impact on the cost of the extension.

You will only have the right to extend the lease if you have been the registered owner for 2 or more years.

One way around this is if the vendor is a qualifying tenant, they can serve a Section 42 notice and transfer this with the sale, so you do not have to wait two years.

We recommend you have a valuation undertaken to ascertain the current value of the property, the likely cost of the lease extension and the value once the lease is extended.

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Arnold & Baldwin also provide residential surveys and can provide both the survey report together with the valuation report for complete peace of mind.

Further information

lease extension process – learn more Moving home checklist and next steps
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What is a Leasehold?

Leasehold means that you own the property, but the land upon which the property is built is owned by the freeholder (or landlord).

This gives you the right to occupy the property for as long as the lease is valid.

What is Ground Rent?

If your property is a leasehold property, you will have to pay an annual charge known as ground rent to the person who owns the freehold.

What is a Section 42 Notice?

A Section 42 Notice (also known as a Tenant’s Notice) is served on the landlord/ freeholder of a property and starts the purchase of the freehold or lease extension process. Once a valuation of the property has been carried out by your surveyor they will send the valuation on to your solicitor.

Next your solicitor will serve a Section 42 Notice on your landlord/ freeholder advising the amount you are willing to pay for the freehold.

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Professional, efficient surveyors. Get the job done in a timely manner, had our survey back within 5 days of inspection. All team members I spoke with (Tiffany and Billy) were really lovely. Highly recommend. :)


I have only just started working with Stephen and he has already demonstrated the high levels of customer attention and dedication that this company has. The first impression he has caused is such that made me write this review. I have no doubt that the continuous service will be of same level. Looking forward to working further with Stephen. Well done!

Steve Kenny

Lease extension - I found Daniel Grove very professional and had an excellent understanding of all aspects relating to this transaction. Advice was invaluable, and it was nice to come across someone who did exactly what they said they were going to do. Would not hesitate in recommending the firm and Daniel to anyone who has a lease to extend.

Petros Kyrkilis

Amazing job and fully professional treatment. The surveyor went above and beyond to check for everything, when he could have easily claim lack of access. In addition he was more than happy to answer questions over the phone and be there to explain the steps.

Lynn Wilson

Within 48 hours I received my detailed report from Joe Arnold which enabled me to see the property as it was and not through rose-tinted glasses! The report highlighted areas where money might need to be spent and provided guidance on questions for my solicitor - just what I needed. Overall, the survey enabled me to re-assess my offer and in this respect was invaluable. Thank you for a friendly and professional service.

Mark Roberts

100% choose this company. As first time buyers we had a mortgage valuation which said the house was fine. The Arnold & Baldwin survey found over £30,000 of problems. Holes in the roof with daylight visible, damp, woodworm, broken sash windows and poor electrics. This company helped us renegotiate and save a fortune.


Arnold & Baldwin came recommended and I’ve got to say they were brilliant - not just in identifying issues with the property I was looking at but in the way they kept me informed and up to date (ie picking up the phone instead of just posting / emailing communications with you). After dealing with estate agents for so long, it’s nice to have someone who is genuinely on your side.

Kamal Rahman

From my initial interaction with the firm I found them to be prompt, courteous and helpful. I received a detailed Homebuyers report within a week of instructing and was given the opportunity to talk it through with the attending surveyour. Overall excellent service all round, would certainly recommend this firm.

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