If you own the Leasehold of a flat, legislation over the last few decades has made it easier to acquire the freehold of your property or extend the lease by 90 years (over and above the remaining term of your lease) at a ‘peppercorn’ ground rent, or, together with your fellow lessees even buy the freehold (called “enfranchising”). If your lease is getting short, (particularly if it is under, or approaching, 80 years), to protect the value of your property it is advisable to consider extending the lease.