Difference between leasehold and freehold property

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Difference between leasehold and freehold property:

The main difference between freehold and leasehold properties pertains to land ownership and control. As an owner, you can mostly do what you wish with your home, provided you keep within the local planning rules. In the case of a leasehold property, the ownership is given by the government for a tenure of 99 years. 


Freehold property:

The land belongs to the owner 

Ownership is indefinite

Not required to transfer the ownership

Banks will finance easily


Leasehold property:

Leasehold Property

Land belongs to the leased owner for a certain number of years

At the end of the lease period, the owner must pay to end the lease.

In order to transfer the ownership it is required state consent obtained at the land office

If the banks the lease period is less than 30 years, most of the banks will not 







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