Leasehold
Leasehold means you own a property for a fixed number of years but not the land it stands on.
1 min read Buying a Home
What it means
Leasehold means you own a property for a fixed number of years but not the land it stands on. Many flats are sold as leasehold.
Example
You buy a flat with 120 years left on its lease.
Why it matters
Understanding the lease is important before buying.
Leaseholders may also pay service charges.
Do leaseholds become freehold automatically?
No. The rules depend on the property.