A statutory lease extension is a name for when you get an extension under the 1993 Act guidance. You have a legal right to an extension when you get this kind of extension. The amount you can extend your lease will be set to 90 years for a flat or 50 years for a house. If you go this route, your fee will be determined by your property value and guidelines per the 1993 act so that it's fair and transparent.   You must meet some eligibility criteria before you can get this extension. You'll have to get an informal lease extension if you don't. This is where you have no right, and your freeholder has the control and power to refuse the extension and charge a considerable fee.