Leasehold vs Freehold: the Differences and What to Consider

Posted by Foxtons New Homes on 14th September 2022 -

What’s the difference between a freehold and leasehold property? These are the two main forms of home ownership and you should understand the difference before buying a property.

**2022 Update: We originally published this article in 2018. It has been updated several times, most recently for The Leasehold Reform (Ground Rent) Act, which came into effect on 30 June 2022, which banned ground rent (read about it here).**

Here we’ll take a look at each way you can legally own a home, along with the pros and cons of buying freehold and leasehold. We’ll guide you through some of the more technical elements and cover some frequently asked questions on the topic.

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