What is the difference between Leasehold and Freehold ?<\/p>\n
\u2728 When you buy a leasehold property, you are ownership of the property and not own the land the flat sirs on or the fabric of the building including the roof and external walls.
\nThe lease agreement will state the number of years left on the lease.
\nWhen the lease ends, ownership returns to the freeholder, unless you can extend the lease.<\/p>\n
About Leasehold :
\n– Length of the lease :
\nA flat\u2019s original lease duration is likely to be a long period as 99 years or 125 years and can be as 999 years.
\nLeases with 80 years or fewer are considered short.
\nHowever, since Government reforms announced in 2021 make it cheaper and more accessible for leaseholders to obtain lease extensions.
\n– Service charges :
\nThe landlord or managing agent will impose a service charge to cover the costs of maintaining the building\u2019s structure and the communal areas.
\n– Ground rent :
\nThe fee payable to the landlord on an annual or half-yearly basis is Ground rent.<\/p>\n
\u2728 When you buy a freehold property, you are ownership of the building and the land it sands on.<\/p>\n
Benefits of Freehold :
\nThe owners can make any alterations to the property (must respect adhere to planning or obtain listing building consent).
\nThere are no ground rent and services charges pay.
\nThe freeholders are not reliant on anyone else to maintain the building.<\/p>\n
Let\u2019s talk about your project :
\n\ud83d\udc69\ud83c\udffb\u200d\ud83d\udcbb H\u00e9l\u00e8ne Folacci
\n\ud83d\udce9 hf.lunamer@gmail.com
\n\ud83c\uddec\ud83c\udde7+447593750268
\n\ud83c\uddeb\ud83c\uddf7+33681837192<\/p>\n","protected":false},"excerpt":{"rendered":"
What is the difference between Leasehold and Freehold ? \u2728 When you buy a leasehold property, you are ownership of the property and not own the land the flat sirs […]<\/p>\n","protected":false},"author":6,"featured_media":2355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-2354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bussiness"],"_links":{"self":[{"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/posts\/2354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/comments?post=2354"}],"version-history":[{"count":0,"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/posts\/2354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/media\/2355"}],"wp:attachment":[{"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/media?parent=2354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/categories?post=2354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lunamer-realestate.com\/site\/wp-json\/wp\/v2\/tags?post=2354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}