The difference between leasehold and freehold


Hi, it’s Joanne from Essex Property Angel. Question get asked a lot is what’s the difference between freehold and
leasehold, it a lot of people buy property and don’t quite understand the
difference especially if you’re a first-time buyer so quick and easy
explanation for you, freehold you own the land that the bricks for your property
built on, leasehold you don’t own the land, you own the bricks and you own
everything that he’s part of your building, but you don’t own the land that
you’re on so that’s why you pay something called ground rent, so you’re
in effect renting the ground. You have a lease for the time that your property is
allowed to be on that land and so a lease can be 99 years, 125, I’ve seen so much
they up to 500 years, so you can have a long lease but somebody else owns
the ground that your property’s built on and that’s a very, very simple
explanation the difference between a leasehold
and a freehold

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