What is the difference between buying a Freehold and a Leasehold house?
At HB 121 Solicitors, Property Solicitors can advise you on the difference between a freehold house
and leasehold house.
A few of the differences between purchasing a leasehold house, or freehold house is as follows:-
If you were to purchase a freehold house:-
- Owning a freehold property means you are not required to pay any ground rent as you will
own the ground the property sits on (unless stated otherwise in your title).
- With a freehold property, as you will own it outright any renovation work you wish to carry
out will need to be inside with, for example the Local Authority (if necessary). You may also
need to check your title as to whether anymore relevant consents are required or there are
any restrictions in your title.
If you were to purchase a leasehold house:-
- By purchasing leasehold house, what this will mean in effect will be that you will own the
house for a period of time which will be stipulated in your Lease and you will not own the
land it stands on. This will be owned by the freeholder/Landlord. Any renovation plans you
may wish to do can be affected as it is a leasehold house.
- Most Leasehold properties require you to pay service charges/ground rent.
- With a Leasehold home you will need to communicate with the Landlord/freeholder about
important issues.
For further advice and information, please contact our Residential Conveyancing Solicitors in
Kidderminster or Stourport on Severn on 01562 702655 (Kidderminster) or 01299 848944 (Stourport
on Severn). You can also email us on info@hb121solicitors.co.uk.
