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If you have a freehold, then you own the land. With a leasehold, you don't own the land. This concept exists in most parts of the world.
by gnode 9y ago
If you have a freehold, then you own the land. With a leasehold, you don't own the land. This concept exists in most parts of the world.
- Flavius 9y agoThe worst part about this concept is that home owners that don't own the land will try to sell you the house like they own the land. This is why I never look at these properties. They should be cheaper, but they are not.
- vixen99 9y agoAnd it may be that the best bit is that with 'leasehold' you have legal protection from responsibities (often due to said leaseholder) which lie in the province of the freeholder. It's not always such a smart idea to have a freehold property in a city.
- SamColes 9y agoBecause in practice it usually makes little difference. Ground rents are often as little as £10 a year.
- youngtaff 9y agoThat's not true - there have been a bunch of cases recently where the ground rent is much more than that a doubles every x years https://www.theguardian.com/money/2017/jul/25/leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-know https://www.theguardian.com/money/2017/jul/25/leasehold-hous...