What is a freehold property?
When you buy a freehold property, you’re buying the property and the land it has been built on. It usually refers to houses*.
You are the ‘forever’ owner of the freehold title until you sell it on to someone else.
*Note: Some houses can be leasehold if you buy under shared ownership. Also, when purchasing new-build houses, be sure to double-check the title status
What is a leasehold property?
When you buy a leasehold property, you’re purchasing the property but NOT the land it has been built on. This is most common with flats.
Usually, another party owns the freehold of the building, and you will ‘lease’ the flat from them
A leasehold is time-sensitive. So, if you buy a property with a 100-year lease, at the end of that time, the ownership goes back to the freeholder.
Property jargon can be confusing, but don’t worry, our team are always happy to explain things.
Get in touch today if you’re selling or searching for a property.
