If you own, sell, or manage a leasehold property, knowing how many years are left on the lease is essential. The remaining lease length can impact property value, mortgage eligibility, and your ability to extend the lease. In this guide, we’ll break down what a leasehold property is, how to check your lease details, and what to do if your lease is running low.
What is a leasehold property?
A leasehold property means you own the right to live in the property for a set period, as stated in a lease agreement. However, you don’t own the land it’s built on - the freeholder (or landlord) owns the land and may charge ground rent and service charges for its upkeep.
Leasehold agreements are most common for flats, though some houses also have leases. When first issued, leases typically last 99 to 999 years, but the remaining term reduces over time. If the lease runs out, ownership returns to the freeholder unless you extend it.
💡 Want to understand leaseholds in more detail? Check out our complete guide on how leaseholds work in the UK.
Where can you find your lease details?
Your lease agreement contains all the key details about your lease, including its length and terms. If you bought the property, you should have received a copy of the lease as part of the purchase documents.
If you no longer have the paperwork, you can check your lease details with the Land Registry. Your leasehold title is officially registered, and you can request a copy to find specific information about your lease length and conditions.
How to check how long is left on a lease
If you're unsure how many years remain on your lease, there are several ways to find out. Checking your lease length is important, as a short lease (typically under 80 years) can affect your property value, mortgage eligibility, and lease extension costs. Here’s how you can confirm your remaining lease term:
Check your lease agreement: Your lease agreement (which you should have received when buying the property) will state the original lease length (e.g. 99 or 125 years) and the start date. To calculate the time left, simply subtract the number of years passed since the start date.
Contact your freeholder or managing agent: Your freeholder or property management company should have up-to-date lease records. They can confirm the remaining lease term and provide information about ground rent, service charges, and any obligations you may have as a leaseholder.
Request your leasehold title from the Land Registry: If you don’t have a copy of your lease, you can request your leasehold title from the Land Registry for a small fee. This document includes key details such as the lease length, start date, and any restrictions on the property. You can check the Land Registry website to apply for this online.
Speak to your solicitor: If you used a solicitor or conveyancer when buying your home, they should have a record of your lease. They can provide a detailed breakdown of the lease terms and explain any legal implications, such as how lease length affects your rights or costs for extending the lease.
What happens if you have a short lease?
A 'short lease' refers to a lease with fewer than 80 years remaining. Short leases can pose challenges, including:
Reduced property value: The shorter the lease, the less valuable your property becomes. Potential buyers may not want to buy a property with a short lease due to future costs and complications.
Mortgage difficulties: Lenders might not give mortgages for properties with less than 70 years remaining on the lease.
Higher extension costs: Extending a short lease can be more expensive, especially if it has fallen below 80 years. You'll need to pay a "marriage value" to the freeholder.
💡Editor's insight: "Marriage value basically means the increase in property value once the lease is extended or you buy the freehold. If it’s less than 80 years, this will be usually 50% of this interest to the freeholder. You should know that the marriage value is none in most cases if the lease is over 80 years. Therefore, it’s always worth looking at the lease before this period”.
Options for dealing with a short lease:
Extend the lease: Leaseholders have the legal right to request a lease extension from their freeholder. This would normally add 90 years to the existing lease and reduce ground rent to zero.
Purchase the freehold: Leaseholders may be able to join together to buy the freehold. This will give them greater control over the property and will stop the need to extend the lease.
Sell the property: While selling a property with a short lease may be more difficult, it is an option. Keep in mind that the buyer may try to get a lower price to account for the cost of extending the lease.
FAQs
How do I find out how long my lease is?
To find out how long your lease is, check your lease agreement or contact your freeholder or managing agent. You can also get your leasehold title from the Land Registry. Our team can help you to find this out too.
Is 100 years left on a lease good?
Yes, 100 years left on a lease is generally considered good. It’s long enough not to affect property value or getting a mortgage. If you plan to sell the property in the future, consider extending the lease before it falls below 80 years. For more advice, head to our guide on 100-year leases.
Is a 125 year lease long enough?
A 125-year lease is usually long enough to avoid any issues for most buyers or lenders. But over time, the remaining years will decrease. It’s important to keep an eye on the lease length and take action well before it reaches 80 years to avoid costs and complications.
Final thoughts
Knowing how long is left on your lease is key to managing your property and making smart financial decisions. Whether you already own a leasehold property or are thinking about buying one, checking your lease details can help you avoid future challenges and make informed choices.
If you find that your lease is getting short, acting sooner rather than later to extend it can protect your property’s value and make it easier to sell or remortgage. Changes are also coming - new reforms, like the Leasehold and Commonhold Reform Bill, are expected in 2025/2026, which could impact leasehold rules. Staying informed will help you secure your investment and understand your rights as a leaseholder.
💡 Need legal advice on lease length or extensions? Get in touch today for a free, fixed-fee quote and see how our expert property law solicitors can help.
References
Leasehold Property by Gov.UK
Sweeping reforms to give leaseholders more powers and protection by Gov.UK
Official copies of documents by Gov.UK
Disclaimer: This article only provides general information and does not constitute professional advice. For any specific questions, consult a qualified accountant or business advisor. Bear in mind that tax rules can change and will differ based on your circumstances.
