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Could you tell me whats the difference between leasehold and freehold?

Could you tell me whats the difference between leasehold and freehold?

Asked on Feb 21 2009, General in Oldham | Report content

Answers (1)

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  • Freehold - you own the property, the land underneath it and can live there as long as you want. Leasehold - you can live in the property for a set period of time (the unexpired period of the lease). You do not own the property nor the ground underneath it. Once the lease expires the ownership of the property reverts to the land owner. Because of this, the value of the property is affected by the remaining period of the lease. In general, flats are leasehold, houses are freehold.

    Answered on Jun 19 2009, Report content

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