Leasehold vs freehold: what you actually own
5 chapters·15 min·action plan·mastery check
Chapter 1 of 5
The idea
A flat with a short lease can be very hard to sell or mortgage.
Two kinds of ownership
Freehold means you own the building and land. Leasehold (common for flats in some countries) means you own the right to live there for a set number of years, and usually pay service charges and sometimes ground rent to the freeholder. Rules vary widely by country.
Predict first
Many lenders get cautious when a lease falls below about how many years?
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