Leasehold vs Freehold – What’s the Difference?

When buying a property, you may come across the terms freehold and leasehold.

1. Freehold:

You own the property and the land it stands on outright. Freehold properties are most commonly houses.

2. Leasehold:

You own the property for a fixed period under a lease, but the land is owned by a freeholder. Leasehold ownership is most commonly associated with flats.

Understanding the difference is important, as leasehold properties can involve additional obligations such as service charges and certain rules or restrictions about how the property can be used.

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