Leasehold & Freehold

With a freehold, you own the house and the land it’s built on. There are no leases to consider, you won’t have to pay ground rent or any maintenance fees. Freehold is the most common way to buy a house in the UK.

With a freehold, you’ll own the property and any outdoor space or garden. You’ll have to pay for any repairs or damage to the property. You won’t pay ground rent or any upkeep fees.

Leasehold is where you buy the property, but not the land it sits on. The land is still owned by the freeholder, who is selling the property for a set period of time. It’s more common with flats, but there are leasehold houses too.

Leaseholds usually last between 125 and 999 years. If you buy a leasehold property, you might be able to extend how long you own it for. Shared spaces, like gardens and hallways, are the responsibility of the landlord.

This means if there’s any damage or work that needs doing, they will usually sort it out. You’ll pay them a service charge to cover this. You’ll also pay ground rent.