Freehold and Leasehold Property Explained | Home Buying Guide (UK)

In this video, freehold and leasehold property is explained as part of our recent home buying guide for UK homeowners.
Watch and you will learn:
👉What a freehold property is by definition
👉What it means to buy a leasehold property and the costs
👉Why you should be wary of buying a property on a short-lease
👉The leasehold scandal that arose because of developers selling new build houses on a lease!
👉The importance of getting sound legal advice when buying a leasehold home
Please share in the comments your experience of buying a freehold or leasehold property 👇
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➤MORE ABOUT THE LEASEHOLD SCANDAL
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#leasehold #freehold #property

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[@BleedingSnow]

I'm one of those people who fell for the trap, 21 father died used all assets/money to purchase a leasehold flat in a block, 95 years. Very informative video though so many thanks!
[Edit] Although it is a shame to know all the money and effort invested will disappear in 95 years down the line and can't be passed onto generations.

[@honadolfmotaleengtechllbho5317]

Thank You Very Much

[@MoveiQ]

You are welcome

[@juanfcgb]

Brilliant explanation about leasehold/freehold! I have the opportunity to buy the whole share of freehold (2 neighbors) from a Victorian end of terrace ground floor (mine) conversion flat plus the 1st floor neighbor. Can you see any benefit on this? Many thanks, Juan

[@thomasabbott9943]

Increase your lease before 80 years to avoid additional marriage charges. Buying a property with a short lease - ask the vendor to agree to extend the lease (on your behalf) on completion otherwise you’ll have to wait two years before you’re allowed to extend it, all while the cost of renewing it grows year on year. Some landlords will allow you to start the process before 2 years which freezing the clock on the marriage charges. You can find lease extension calculators online which are pretty accurate but the cost is negotiated between you and the landlord + solicitors fees.

[@ashtongrist]

After my 10p years us up what do I then do? Im presupposing i will survive as we are nearly there medically

[@lenilsonsg]

Hello,
Could you please give me your opinion on this matter? A property was leasehold in the past, the owners purchased the leasehold and now it's listed as freehold. However, on the contract and the land registry documents it shows both Freehold and leasehold. It does not have ground rent nor a management company.
Are there any issues for new buyers when they reach the phase to register it in the land registry?
Should it be merged to only Freehold?

[@parisaandreaqurban893]

I am having this exact same issue!

[@carenjacks]

👍🏽

[@G0reMay]

What if you have the money to buy with out a Mortgage ?

[@MoveiQ]

Then you are a cash buyer and possibly proceed quicker?

[@Sky2theRim]

Why isnt this illegal?

[@MoveiQ]

We can't answer that one