Leasehold vs Freehold


Leasehold means someone else owns the ground the building is built on. A minimum 85 years is usual as most banks won’t lend to you on a Mortgage with less than that. If you have less than 85 years on your lease, you will need to get it extended, which can be quite tricky, you need a specialist to help and it can get expensive.


This means you own the property in its entirety and it’s all yours.

Getting a valuation for your leasehold or freehold property

If you own a freehold flat, a standard Valuation will apply.

If your property is leasehold you need to ensure there is a minimum of 85 years left or the Valuation will be reduced, to take in the fact there are less years, so best to get it extended first.

If you are buying a leasehold property, you need to make sure it has a minimum of 85 years, or you may not secure a Mortgage, please check with your bank first.