When you extend a lease that has less than 80 years to run, there is an additional fee to be paid to the landlord called a marriage fee. When a lease is extended, it adds value to the property, sometimes this can be a substantial amount. Under the 1993 Leasehold Reform Act, the landlord is entitled to half of the increase in the value of the property when a <80 year lease is extended, this is called the marriage value or marriage fee, so-called because the value of the property + longer Lease (i.e. when married together) exceed the combined value of the separate entities. When you extend a lease with a remaining term of 80 years or more, no marriage fee is payable. You should always look to extend a lease before it hits the 80 year mark for this reason.
