Key takeaways
Freehold means you own both the property and the land, while leasehold means you own the property for a fixed period
Most flats and apartments in the UK are sold as leasehold properties
New leasehold properties typically come with lease lengths of 999, 125 or 99 years
Leasehold properties often require additional payments like ground rent and maintenance fees
Leasehold conveyancing fees are typically higher than freehold due to additional legal requirements
Buying a property is, for most people, the biggest investment they’ll ever make. So, it’s vital to know all the details on the property to make an informed decision.
Most properties in the UK are sold as either a freehold or leasehold. In this article we look at what leasehold and freehold properties are, the fundamental differences, and pros and cons of buying each one. This should help you to make an informed decision for your property purchase.
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