• Richard John Clarke’s primary aim is to achieve lease extensions at the lowest cost to our clients
• We are celebrating our 20th Anniversary Year
• Members of the Association of Leasehold Enfranchisement Practitioners (ALEP) for 10 Years
• Members of the Royal Institution of Chartered Surveyors (RICS) for 25 Years
• RICS Registered Valuers (RRV)
• We often appear at the First-tier Tribunal on behalf of our clients to ensure our clients get a fair deal (click above to look at the most recent tribunals we have dealt with). We currently deal with approximately 300 lease extensions and collective enfranchisements per year.
• We have been practising carrying-out lease extensions and collective enfranchisements since 2007.
• Whilst it’s still rare, we often appear at the First-tier Tribunal on behalf of our clients to ensure they get a fair deal (click above to look at our most recent tribunal decisions)

If you would like a Lease Extension at the lowest cost to yourselves, instruct Richard John Clarke Chartered Surveyors to carry out the valuation and negotiations on your behalf.

For a Free No obligation quotation please call our Freephone number on 0800 470 1117, email us or complete the form below.

• We are happy to provide free no-obligation quotations of our valuation costs for our potential clients.
• In order to set a budget, Richard John Clarke’s fees are set on a fixed price basis, so our clients know from the out-set what our charges are going to be to complete the Lease Extension.
• We can seek quotes from one of our recommended Lease Extension Solicitors to deal with the legal aspects of the claim.
• Where it is possible, we will also provide a “estimated ballpark” figure for the Lease Extension Costs payable to the freeholder

In addition to your own legal and valuation costs, the Freeholder is allowed to and generally will charge for being compelled to grant a Lease Extension. This includes 4 distinct costs which are described below:

1. Capitalised Ground Rent, of each flat, is found by applying the Ground Rent Multiplier to the ground rent, which can vary from 14 to 30 times the ground rent depending on the amount of ground rent, the frequencies of reviews and the amount of increase at review. Onerous ground rents (eg ground rents that double every 10 years) will cost many more times this. Richard John Clarke argue for a lower multiplier on behalf of our leaseholder clients.
2. Reversionary Value is the “share of freehold” value of each flat, discounted at an interest rate of 5% for each of the years that remain on the lease. This figure varies from approximately 1% of the “share of freehold” value at 95 years unexpired but increases to 95% at 1 years unexpired! Freeholders’ initially tend to inflate the value of each flat rather than adopt a fair valuation. Richard John Clarke argue for lower reversionary value on behalf of our clients.

1. Marriage Value, only payable for flats with 80 years or less unexpired, this is an extra payment calculated at 50% of the additional value created by enfranchising the building and giving each flat a “share of freehold”. This payment is between 1% and 11% of the “share of freehold” value of each flat. Richard John Clarke argue for a low marriage values on behalf of our leaseholder clients.
2. Professional Fees, known as Section 60 costs, represent the freeholders’ legal and valuation costs. The guiding principle is that these are limited to “reasonable costs” but very often amount to several thousand pounds. However, the freeholders are not entitled to claim for the costs of negotiations or preparing/attending the First-tier Tribunal. These fees need to be checked and if necessary, challenged to ensure they are fair. Richard John Clarke and our Solicitor colleagues always check these costs are reasonable for our leaseholder clients.

For a Free No obligation quotation please call our Freephone number on 0800 470 1117, email us or complete the form below.