What is a Leasehold Property?

If you’re making a leasehold purchase, you’ll only own the leasehold property for a fixed period of time.

One way of looking at it: a leaseholder owns the property, but not the land it stands on. The land is still owned by the ‘freeholder’ (the landlord). When the lease runs out the property will revert back to them.

You’ll have a legal agreement known as a ‘lease’. This contract will have the property details and the date that the lease ends (returning the property to the landlord/freeholder).

Flats are most commonly owned on a leasehold basis. Houses are normally sold as freehold properties. But almost any property can be a leasehold (most church purchases are leasehold).

Conveyancing for Leasehold properties can be difficult and requires extra work for the conveyancer/solicitor. For more info about this visit our Conveyancing Leasehold Page.