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A statutory lease extension adds 90 years to your existing term and reduces the ground rent to a peppercorn. That second point matters more than most leaseholders realise: an onerous ground rent can affect saleability and lending long before it affects the premium.
These articles explain what the new lease will look like and why particular ground rent structures cause difficulty.
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Terms of the New Lease
You get an extra 90 years added to your lease, ground rent reduced to zero, and all other terms remain the same unless agreed otherwise. If your lease has 90 years currently, then it will be extended to 180 years on completion.
