Buying your first home and not sure what freehold and leasehold mean? Find out the major differences here.
Freehold vs Leasehold
If you’re buying a house, you may have heard of the terms freehold and leasehold. While these terms may sound complicated, they have two simple meanings:
- Freehold – You own the property and the land it’s built on for as long as you want.
- Leasehold – You own the property for a set period, but not the land it’s built on.
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