Freehold is when you own the house and the land the house is built on.
Leasehold is when you don't own the land that the house is built on.
- Freehold, share of freehold or leasehold properties
- Leasehold properties must have at least 90 years remaining on the lease at completion
We don't accept:
- Flying freehold
Usually, houses are freehold whereas flats tend to be leasehold.
Things to consider with leasehold properties
- With a leasehold, you have an agreement with the freeholder (the person who owns the land the house sits on) to live in/rent out the property for a specified number of years (term of the lease.
- You will usually have to pay maintenance fees to help with the upkeep of the shared/common areas of the building.