Freehold Vs Leasehold

Property Conveyancing

A freehold property is usually a house, bungalow, detached/semi-detached/terrace.  When you purchase your freehold property, you also purchase the land on which the property is built.

Leasehold means you simply lease the property from the freeholder to use for a certain amount of years. Leases can vary in length between 40 and 999 years.

Leaseholders usually have to pay ground rent and service and maintenance charges each year, to contribute towards the cost of upkeep for the common areas of the freehold (such as stairs in a block of flats).

Hart Reade’s conveyancing solicitors can fully explain the advantages and disadvantages of freehold and leasehold properties, and any requirements relevant to both in the conveyancing process.  Please contact us for more information.