Leasehold vs Freehold: Which Are You Buying?
Freehold means you own the building and the land outright, with no time limit and no ground rent. Leasehold means you own the property for a fixed number of years, after which ownership reverts to the freeholder — common with flats.
Lease length matters because mortgage lenders often refuse to lend on leases under 70–80 years remaining, and extending a lease can cost thousands. Always check the lease term and any escalating ground rent clauses before offering.
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