Freehold vs Leasehold Properties: The Key Differences (UK)
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- čas přidán 9. 11. 2017
- Are you looking for a new home? Do you understand what is meant by a freehold or leasehold property? Experienced estate agent, Ian Harris helps explain the key differences.
So here is what you will learn in this video:
The definition of freehold and what means to you if you own a freehold property.
An explanation of what leasehold means and why leaseholds were set up, using the most common example of a block of flats.
The video also discussions some of the restrictions that may be imposed in a leasehold property and other fees that you may need to pay in a leasehold property such as the ground rent and service charges.
Ian finishes with some tips on questions you should ask the estate agent if you’re looking at leasehold property.
For more advice visit the Propertymark website ow.ly/uFKy30iC0to
#Propertymark #Freehold #Leasehold
I lived outside Hemmel hempstead 1980 and all the neighbors owned Leasehold houses, - not flats. They were astonished that in the US I owned my house AND the land it sat on. My professional classs neighbors explained that as the lease on the land under their homes got closer to the 100 yr termination date, the ability to sell their homes for full price got harder.
Explained clearly and concisely, thanks
Great video!!! I passed it to clients when they are confused about the subject.
Thanks this was really helpful
Every luxury apartment in London is either leasehold of shared ownership.
Thanks for the info.
if i buy a house with leasehold is it mine or i have to give it back to the owner of the land after a certain amount of years?
I'm selling an old leasehold property (1890s) with a 999 year lease on it. There have never been any charges from anyone on the lease (lived here 25 years). Seems the leaseholder is not active. In selling the house we're being asked to commit to insurance to cover the chance the leaseholder will re-appear. Is this standard practise?
Hi can you say if its legal for a freeholder to sell off part of existing communal gardens to a new flat buyer . This also with out the leaseholders agreeing to it . Many thanks . ✌️
999 years. That makes total sense
So, what's the difference between them? What do you buy when you buy leasehold? What do you own?
Avoid leasehold houses! There is absolutely no reason why a buyer shouldn’t be able own their house. It’s just a way of making people feel like they own a house when actually they own absolutely nothing. Flats are understandable as there are other flats to consider which all use the same garden, roof, stairwell, corridors etc but houses should be owned by the buyer. It’s all a big legal scam!
The background 'music' is infuriating.