Updating post from Reddit.
Anyone know what's with Marriage Value on a leasehold renewal on a UK property !? I let my leasehold slip below 80 years about 5 or 6 years ago ! I enquired about renewing the lease to 99 years back then and they started quoting silly prices like 25 thousand pounds !! Apparently Labour have supposed to have abolished this ( or Tories did when last in power , but Labour has pushed it through Parliament when they took over ) but I have heard nothing since ! Anyone know what's going on ? I have lived in Greece the 8 years so I haven't really kept up with what's going on .
It’s not going to abolished for existing leases.
As things stand marriage value will be abolished for existing leases, however the government will need to pass secondary legislation to do so and the timeline on that is uncertain.
Details on the current status of leasehold reform can be found here.
Thanks !