By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
The News GodThe News God
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
    • Travel
    • Education
    • Entertainment
    • Law
    • General
Reading: Leasehold Properties: Everything You Need to Know 
Share
The News GodThe News God
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
Search
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Sports
  • Tech & Autos
  • Home and Garden
  • Other Categories
    • Travel
    • Education
    • Entertainment
    • Law
    • General
Follow US
  • Blog
  • Blog
  • Advertise
  • Advertise
The News God > Blog > Business & Finance > Leasehold Properties: Everything You Need to Know 
Business & Finance

Leasehold Properties: Everything You Need to Know 

Rose Tillerson
Rose Tillerson November 3, 2021
Updated 2021/11/03 at 1:22 PM
Share
3 Min Read
Leasehold Properties: Everything You Need to Know 
SHARE

Purchasing a house and getting on the property ladder is one of the most exciting milestones in life. There’s no better feeling than having months, maybe even years, of searching come to an end when you finally secure the perfect place.

But what if your dream home is a leasehold and how does this alter the process?

In this article, we uncover everything you need to know when investing in a leasehold property.

What is a Leasehold?

A leasehold is when you purchase a property, but you don’t technically own the land that the property is situated on. This gives you the right to occupy the property for as long as the lease is valid. It is typically buildings such as flats that are leasehold properties.

Difference between Freehold and Leasehold?

When buying a property in the UK, there are two types to consider: freehold and leasehold. These differences are as follows:

Freehold: This is where a person owns the freehold of a property owns the property and the land it stands on, for an unlimited amount of time.

Leasehold: This is where a person owns the property, but not the land it’s on. The land is owned by a freeholder. Ownership of your property is also for a set period or lease, which can be a number of years depending on the length decided in your contract. Once your lease expires, ownership of your property then passes on to the freeholder of the land.

What Are the Pros of a Leasehold?

Despite what you may here, there are many pros to investing in a leasehold property. Here are a few worth mentioning:

  • A leasehold property is usually cheaper than a freehold property
  • The freeholder is responsible for building maintenance in communal areas, meaning you have less upkeep to consider
  • The freeholder is in charge of overseeing the structure and maintenance of the building
  • The freeholder also arranges building insurance

What Are The Cons of a Leasehold Property?

You may have heard Leaseholds get a bad rap from some people, and that’s because they do have some of the following disadvantages:

  • You pay service charges and ground rent to the freeholder, which can increase over time
  • You need written permission from the freeholder to change anything within the property
  • You may not be allowed pets
  • You may be prohibited from running a business from home
  • It is likely you will be prohibited from sub-letting your property.

If you are allowed to sub-let, you may wish to enlist the help of a professional agency to help with the process of renting out your property.

You Might Also Like

How Your Business Should Design Online Forms

Top iBuyers in America

4 Helpful Tips On Starting A Family Business

Standing Out with Feather Flags

Most Effective Ways to Market Your Brand Online

Rose Tillerson November 3, 2021
Share this Article
Facebook TwitterEmail Print
Share
Previous Article 5 Tips for Chatting on Gay Dating Sites 5 Tips for Chatting on Gay Dating Sites
Next Article The Importance of Hiring the Right Person for the Job The Importance of Hiring the Right Person for the Job

Stay Connected

235.3k Followers Like
69.1k Followers Follow
11.6k Followers Pin
56.4k Followers Follow
136k Subscribers Subscribe

Latest News

Thiago Silva sends a transfer message to Neymar amid Chelsea speculations.
Thiago Silva sends a transfer message to Neymar amid Chelsea speculations.
Sports June 28, 2022
DickForLily (Julie Lauren Curtis ) Wiki, Bio, Net Worth, Boyfriend, Height, Weight, Age, Real Name
DickForLily (Julie Lauren Curtis ) Wiki, Bio, Net Worth, Boyfriend, Height, Weight, Age, Real Name
Entertainment June 28, 2022
The easy customization feature of the Shopify app helps retailers in personalizing their stores according to their customer's requirements. Mainly Shopify applications are well-designed too and flawlessly integrate with the social media platforms that help in enhancing brand image. Merchants can easily set up the store with or without the help of any services.
How Your Business Should Design Online Forms
Business & Finance June 28, 2022
Top iBuyers in America
Top iBuyers in America
Business & Finance June 28, 2022

You Might also Like

The easy customization feature of the Shopify app helps retailers in personalizing their stores according to their customer's requirements. Mainly Shopify applications are well-designed too and flawlessly integrate with the social media platforms that help in enhancing brand image. Merchants can easily set up the store with or without the help of any services.
Business & Finance

How Your Business Should Design Online Forms

June 28, 2022
Top iBuyers in America
Business & Finance

Top iBuyers in America

June 28, 2022
4 Helpful Tips On Starting A Family Business
Business & Finance

4 Helpful Tips On Starting A Family Business

June 28, 2022
Feather Flags
Business & Finance

Standing Out with Feather Flags

June 28, 2022

© 2022 Thenewsgod. All Rights Reserved.

  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Advertise
  • Disclaimer

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?