Should You Extend Your Lease Now or Wait for Marriage Value to Be Abolished? (2026)
Abolition of marriage value is in the Act but not in force, with no date and valuation rates still to be set. What it means for leases under 80 years, when to extend now, and how to model your own case.
Quick answer: If your lease is under 80 years, do not wait for marriage value to be abolished. The Leasehold and Freehold Reform Act 2024 abolishes marriage value on paper, but that part is not yet in force, no commencement date has been set, and the new valuation rates still have to be set in regulations. Until then, lease extensions are priced under the 1993 Act, and every year your lease shortens makes the extension cost more. If your lease is well over 85 years, waiting carries far less risk.
Where Marriage Value Reform Stands in October 2026
The Leasehold and Freehold Reform Act 2024 changes how statutory lease extensions are priced. It removes marriage value, and it is expected to set prescribed rates for capitalisation and deferment so that valuations are more predictable. Commentary from conveyancers and surveyors agrees on the position as of autumn 2026:
- The marriage value provisions are not yet in force and no commencement date has been announced.
- The new valuation method cannot start until the government prescribes the rates in regulations. The government consultation on those rates closed on 23 September 2026.
- Commentators expect commencement in 2027 or 2028 at the earliest, but this is an estimate, not an official date.
- Until commencement, lease extensions are priced under the Leasehold Reform, Housing and Urban Development Act 1993, so marriage value still applies when the lease has less than 80 years left.
We could not find an official commencement notice, so check the Act's commencement records on legislation.gov.uk or the government's leasehold property pages before relying on any date.
What Marriage Value Is and Why 80 Years Matters
Marriage value is the increase in the flat's value when a short lease becomes a long one. Under the 1993 Act it is shared equally between the leaseholder and the freeholder, and it is only payable when the lease has 80 years or less remaining. Once the lease falls below 80 years, the leaseholder pays the freeholder half of that uplift on top of the other elements of the premium. The longer you wait below 80 years, the larger the uplift and the higher the price. Our guide to lease extension costs in England and Wales breaks down each element.
A simplified illustration: if extending the lease would raise the flat's value by 30,000 pounds, marriage value would add about 15,000 pounds to the premium. That figure sits on top of the freeholder's loss of ground rent and reversion. These numbers are illustrative only, since a real premium needs a valuer's report.
Extend Now or Wait? A Decision Guide
| Your remaining lease | Marriage value payable today? | Suggested approach |
|---|---|---|
| Over 90 years | No | Waiting is low risk. Review again as you pass 85 years. |
| 85 to 90 years | No | Plan ahead. Get a valuation and decide before you reach 82 years. |
| 80 to 85 years | Not yet | You are close to the line. Extending now avoids marriage value altogether. |
| Below 80 years | Yes | Extend soon. Each year of delay raises the cost, and reform has no date. |
| Below 70 years | Yes | Extend as a priority. Mortgage and resale problems grow as the lease shortens. |
The Risks of Waiting
- The date is uncertain. No commencement date has been set, so you could wait years and still be priced under the 1993 Act.
- The lease keeps shortening. Every year below 80 years raises the premium in the meantime.
- Resale and finance. Many lenders are reluctant to lend on short leases, which narrows your pool of buyers.
- The new rates are not known yet. The prescribed capitalisation and deferment rates have not been set, so nobody can say the new system will be cheaper for every lease.
What to Do Now
- Check your exact remaining term and what it will be in 12 months.
- Get a valuation from a specialist surveyor to see how much of your premium is marriage value.
- Model your own figures in the lease extension calculator.
- If you buy flats as an investor, check the lease length before you offer. A short lease can be bought at a discount, but the extension cost must be built into your price. See our guide to the lease extension process and our note on title splitting.
- Remember that since 31 January 2025 you no longer need two years of ownership before you can claim a statutory extension.
Frequently Asked Questions
Has marriage value been abolished?
Not yet in practice. The Leasehold and Freehold Reform Act 2024 provides for it, but that part is not in force and no commencement date has been set.
When will marriage value be abolished?
There is no official date. Commentators expect 2027 or 2028 at the earliest, once the regulations setting the new valuation rates are in place.
Should I extend my lease now or wait?
If your lease is under 80 years, extend soon, because the cost rises every year and reform has no date. If it is over 85 years, waiting carries less risk, but get a valuation so you know where you stand.
How much is marriage value?
Under the 1993 Act it is half of the increase in value created by extending the lease, payable only when the lease has 80 years or less left. A valuer should calculate it for your flat.
Can I extend a lease if I have owned the flat for less than two years?
Yes. Since 31 January 2025 the two-year ownership requirement no longer applies to statutory lease extensions.
Key Takeaways
- Marriage value is still payable under the 1993 Act when a lease has 80 years or less left.
- Its abolition is law on paper but not in force, with no commencement date and rates still to be set.
- Below 80 years, waiting adds cost every year with no guarantee of a cheaper outcome.
- Above 85 years, waiting is low risk. Get a valuation either way.
This article is general information, not legal or valuation advice. Lease extension law is changing and the position can alter without notice. Check current rules and get a specialist valuation and solicitor advice before you serve a notice.