Leasehold

A form of property ownership where you own the property for a fixed period (the lease term) but not the land it stands on. The freeholder owns the land and charges ground rent and service charges. Most flats in England and Wales are leasehold. The Leasehold and Freehold Reform Act 2024 strengthened leaseholders' rights.

Related terms

FreeholdService Charge (Property)Ground Rent

Related guides

Leasehold and Service Charge Disputes

Owning a leasehold property means owning the property for a fixed term while the freehold — the land — is owned by someone else (the freeholder or landlord). Leaseholders pay ground rent (now largely abolished for new leases) and service charges for the maintenance and management of the building. Disputes about service charges, management quality, and lease terms are common, but leaseholders have legal rights and access to the First-tier Tribunal (Property Chamber) to resolve them.

11 min

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