- Property basics
- 4 min read
Freehold vs Leasehold: What's the Difference?
Two words that change what you actually own. Here's the simple version.
If you're buying a house, you'll see the words 'freehold' or 'leasehold' on every listing. The difference matters, financially and practically.
Freehold — you own it all
You own the building and the land it sits on, forever. No ground rent, no service charge, no landlord. Most houses in England are sold freehold.
Leasehold — you own it for a while
You own the property for a fixed number of years (the 'term' of the lease), but the freeholder still owns the land. You'll usually pay ground rent and a service charge for shared areas. Most flats are leasehold.
- Always check how many years are left on the lease, as under 80 years gets expensive.
- Ask for the latest service charge and ground rent figures
- Get a copy of the management pack before you commit
Share of freehold — the hybrid
Some flats come with a 'share of freehold', meaning you own a leasehold flat AND a share in the company that owns the building. It usually means more control and longer leases.
— The takeaway
Freehold = simpler. Leasehold = more rules and ongoing costs. Always know which you're buying, and what it commits you to.
— Residential Conveyancing
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