If you own a property freehold, it means that you own the property itself, plus the land on which it stands, forever. You are named as the freeholder in the land registry, owning the ‘ title absolute.’ This ensures that you will be responsible for repairing and maintaining your home – with no third party having any say in what you are doing. Traditionally, most houses used to be sold as freeholds. Given the choice, freehold is pretty much always the best option to go for while buying any property.

The majority of houses are normally sold freehold. However, there are still a large number of houses that are sold as leaseholds. This issue has recently been well publicised and highlighted in the press and is particularly pronounced with new apartments or new houses, so check before you purchase.

Benefits of having a freehold

You don’t have to worry about the lease running out, as you own the property.

You won’t have to pay annual rents, ground rent, services charges or any other landlord charges.

No third party has a say on any work undertaken in your property.

Disadvantages of having a freehold

You are responsible for maintaining everything.

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for more information visit https://www.leaseholdvaluations.com/leasehold-vs-freehold-whats-the-difference/