Lease extension cost depends on how much the property is worth, how long its lease is, and how much the ground rent is.
Put simply, the more expensive the property and the shorter the lease, the more it costs, which is why acting sooner rather than later is advisable.
Professional fees will add around £4,000 to £5,000 to your total bill, and you may also have to pay your freeholder’s costs.
If the property is a second home or investment property you may also need to pay Stamp Duty on the deal, although costs might be tax deductible – the rules are very complex so good professional advice is essential.