Areas of Law / Property

The person who owns the ground rent for my house wants to sell me the freehold. Can you tell me the difference between freehold and leasehold property?

Freeholders own their property outright whilst leaseholders do not. They “lease” the property for a fixed number of years, during which period they pay ground rent to the landowner and must observe the terms of the lease. You will have been given a copy when you bought your house. Freeholders don’’t pay ground rent. It’’s now possible in many cases to force landowners to extend leases when they run out, or even force them to sell the freehold. If you’’re thinking of buying it pay to see a solicitor.

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