What do you pay when you extend your lease

The lessee will pay their own legal and valuer’s costs and, in complex cases, often those of the Barrister.  

There will be Stamp Duty Land Tax payable if the premium is over £125,000, as well as Land Registry fees and other disbursements such as search fees. The ultimate cost will depend on a number of factors including the complexity of the transaction and how long it takes, and importantly whether or not it is necessary for the matter to be referred to the First-tier Tribunal. 

Section 60 of the 1993 Act sets out those costs that are recoverable from the lessee on completion. 

The lessee is also liable to pay the landlord’s reasonable legal and valuation fees.  Legal fees are limited to the costs associated with considering the Notice, requesting deduction of title and the statutory deposit, requesting access details for the purposes of the valuation and dealing with all aspects of the conveyance through to completion. Also the valuer’s fee for carrying out the valuation is recoverable from the lessee.