Can I change a Leasehold to Freehold?
If you are a leaseholder, then there is the option of attempting to purchase the freehold of your property. If your property is flat, you may be able to buy a share of the freehold, which you would own alongside the other flat owners. If the property is a house you may be able to […]
The Pros and Cons
There are a lot of potential problems with leasehold ownership. The additional costs and charges can be significant, with the terms of some leases seeing ground rent double every couple of years. As a result, what appears at the outset to be an affordable extra charge can end up costing a huge amount. The service […]
What is a Leasehold?
Leasehold is rather different. You effectively lease ownership of a property for a specific period. This tends to be over a long period but can vary from anywhere between 40 to 999 years. You will have a contract with the freeholder of your property, which sets out precisely what you are responsible for. There are […]
What is Freehold?
Owning a property on a freehold basis means you own not just the building itself, but the land it stands on. You are responsible for looking after everything to do with the property, from your possessions inside, to the walls and roof of the building’s outside structure. As a result, if you want to make […]