Should I Wait for Marriage Value to Be Abolished Before Extending My Lease?

If your lease has dropped below 80 years, you have probably heard that marriage value could soon be abolished. The Leasehold and Freehold Reform Act 2024 promises exactly that — but with no confirmed start date, waiting is a gamble. Here is what you need to know before deciding.

What Is Marriage Value?

Marriage value is the increase in property value that occurs when a short lease is extended. Under the current law — the Leasehold Reform, Housing and Urban Development Act 1993 — leaseholders whose lease has fewer than 80 years remaining must pay the freeholder 50% of this increase on top of the standard premium. Read our complete guide on marriage value for leaseholds for a detailed explanation of how it is calculated.

For many leaseholders, marriage value adds thousands or even tens of thousands of pounds to the cost of extending. It is the single biggest reason lease extensions become expensive once the lease dips below 80 years.

What Does the 2024 Act Change?

The Leasehold and Freehold Reform Act 2024 received Royal Assent in May 2024. Among its headline measures, it abolishes marriage value entirely. Once the relevant provisions are brought into force, leaseholders extending a lease below 80 years will no longer have to share that uplift with the freeholder.

That sounds like a clear reason to wait — but there is an important catch.

When Will Marriage Value Actually Be Abolished?

Although the Act is on the statute book, most of its valuation provisions have not yet commenced. The government has indicated that secondary legislation and a new valuation framework need to be finalised first. As of early 2026, no commencement date has been confirmed.

Estimates vary. Some commentators expect the new valuation regime to take effect in 2026 or 2027, but delays are entirely possible. Leasehold reform has a long history of being pushed back, and the technical detail around prescribed rates and transitional arrangements is complex.

The Risks of Waiting

While it is tempting to hold off, there are real risks to delaying your lease extension:

• Your lease keeps getting shorter. Every year you wait, the remaining term drops, and the overall premium — marriage value aside — increases. Ground rent capitalisation costs rise, and relativity falls.
• Mortgage difficulties. Many lenders refuse to lend on leases below 70 years, and some set the threshold at 80 years. A shrinking lease can make your property unmortgageable, limiting your ability to sell or remortgage.
• No guaranteed timeline. There is no statutory deadline for commencement. If the new regime is delayed by two or three years, you will have lost that time with a shorter, less valuable lease.
• Property value erosion. A short lease depresses your flat's market value. Buyers factor in the cost and hassle of extending, and some walk away altogether.

When Waiting Might Make Sense

In a limited number of situations, waiting could be reasonable:

• Your lease is only slightly below 80 years (say 75–79 years), giving you a small buffer before the position worsens significantly.
• You are not planning to sell or remortgage in the near future.
• The marriage value element of your premium is very large, and the potential saving outweighs the risk of a short delay.

Even in these cases, you should serve a Section 42 notice to protect your position. This formally starts the statutory process and fixes the valuation date, stopping the clock on your lease getting shorter for the purposes of calculating the premium.

Serving a Section 42 Notice: Protecting Your Position

Regardless of whether you decide to wait, serving a Section 42 notice is one of the most important steps you can take. It locks in today's property values and lease length for the premium calculation, even if the process takes months to complete.

You need to have owned the lease for at least two years before you can serve notice. A specialist lease extension solicitor can handle the process for you, and the cost of serving notice is modest compared to the potential savings.

What Should You Do Now?

For most leaseholders with a lease below 80 years, the practical advice is straightforward:

• Get a valuation. Understand how much marriage value is costing you under the current rules. Use our lease extension calculator for a quick estimate.
• Speak to a solicitor. A conveyancing solicitor experienced in lease extensions can advise on your specific situation, including whether to wait or proceed now.
• Serve a Section 42 notice. Even if you decide to pause, locking in today's valuation date protects you against further lease deterioration.
• Monitor the reform timeline. Keep an eye on government announcements about commencement dates. If a date is confirmed and is imminent, your solicitor can advise on whether to hold off completing.

The Bottom Line

The abolition of marriage value will be a significant win for leaseholders — but it is not here yet. Waiting without a clear timeline is risky, especially if your lease is already short. The costs of delay — a shorter lease, reduced property value, and mortgage complications — can quickly outweigh the potential saving.

The safest approach for most leaseholders is to act now, serve your Section 42 notice, and keep the option open to benefit from the new rules if they come into force before your extension completes. That way, you protect your position regardless of what happens with the reform timetable.