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Buying Freehold & Leasehold Property
Buying freehold & leasehold property in UK seems as daunting as selling property in UK. We at Easylawyers.co.uk therefore strive to make available all the vital information that you need to know to facilitate your UK property sales. All properties enlisted in UK property sales are either freehold or leasehold. It is up to you to choose which property option to go for. Easylawyers.co.uk aids you with all the conditions and disbursements that go along with buying property in UK.Benefit from the expert help offered at Easylawyers.co.uk that makes buying property in UK easy for you as never before!
When you buy freehold property in UK, you become a ‘freeholder’ which means you fully own the property that is, the land on which it stands and the right to live is yours for an indefinite period of time. Also you have full ownership of the property until you decide to sell it. You can buy freehold property which comprises of the house including the lawns or gardens, terraces and the land on which it is built.
When buying leased property in UK, you only own the right to live for as long as the lease period. Such property includes flats and apartments excluding the land on which it is built. The property becomes the possession of the freeholder as soon as the lease period gets over. Even though you are a mere resident, you have to take care of the maintenance and repairs. As the resident you also need to pay the ground rent on the leasehold property that you buy in UK.
When buying property in UK, the type of ownership essentially decides who stands responsible for maintaining, repairing and taking care of the property, the resident or the freeholder. So what do you prefer? Need help in choosing? Easylawyers.co.uk is here to help!