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Freehold or leasehold? It's one of the most common question asked during a property transaction. To help buyers and sellers better understand the conveyancing process, our Residential Property team has answered some of the key questions surrounding property ownership and what it means for homeowners.
The key difference lies in what you actually own.
When you buy a freehold property, you own both the building and the land it stands on indefinitely. Most houses are sold as freehold properties.
This means:
When you buy a leasehold property, you own the right to occupy the property for a fixed number of years under a lease agreement, but you do not own the land itself. Leasehold ownership is most commonly associated with flats and apartments.
Leasehold ownership usually involves:
Not necessarily, both types of ownership can work well depending on your circumstances.
Freehold ownership often offers greater control and simplicity. However, leasehold properties can still represent excellent homes and investments, provided the lease terms are carefully reviewed.
This is why legal advice is particularly important when purchasing a leasehold property.
The remaining term of a lease can significantly affect a property's value and mortgageability.
A shorter lease may:
As part of the conveyancing process, your solicitor will review the lease length and advise you on any risks.
Yes, many leaseholders have legal rights to extend their lease, subject to qualifying criteria. Extending a lease can increase the property's value and make it more attractive to future buyers and lenders.
Our Residential Property team can advise on all aspects of lease extensions and guide you through the process from start to finish.
In many cases, yes.
This process is known as leasehold enfranchisement. Certain leaseholders have the right to collectively purchase the freehold of the building of which their property forms part. This does not remove the leases and individual property owners will still need to comply with their lease obligations but collectively owning the freehold gives leaseholders more control.
Our Leasehold Enfranchisement solicitors can advise whether you qualify and assist with the entire enfranchisement process.
Selling a leasehold property often requires additional documentation, including:
Obtaining this information early in the process can help reduce delays and ensure a smoother sale.
Conveyancing is the legal process of transferring ownership of a property from one person to another.
A conveyancing solicitor manages all the legal aspects of the transaction, including:
Whether you are buying or selling, having experienced conveyancing solicitors can help ensure the process runs smoothly and efficiently.
Property transactions involve significant financial and legal commitments. A solicitor helps protect your interests by identifying potential issues before they become costly problems.
At Glanvilles Solicitors, we carefully review every aspect of a transaction to minimise delays, avoid unexpected complications and ensure your purchase or sale progresses as smoothly as possible.
Property searches help uncover issues that could affect your decision to purchase a property.
Common searches include:
These searches can reveal matters such as planning restrictions, flood risks, road schemes and other issues that may impact the property.
Timescales vary depending on the complexity of the transaction, the length of the chain and whether any legal issues arise.
While every property transaction is different, prompt communication and proactive legal support can help avoid unnecessary delays.
Our team prides itself on keeping their clients regularly informed throughout the process and on working proactively to ensure transactions progress smoothly and efficiently.
Yes, in addition to buying and selling freehold and leasehold properties, our Residential Property Team can assist with:
As accredited members of the Law Society's Conveyancing Quality Scheme (CQS), holders of the Lexcel accreditation, and being regulated by the Solicitors Regulation Authority (SRA) we are committed to maintain the highest professional standards. Having also been named finalists in The Business Magazine's Property Law Firm of the Year Awards 2024, 2025 and 2026, we take pride in delivering a service founded on expertise and outstanding client care.
When you choose our Residential Property team, you can expect:
To speak with our Residential Property team, call 023 9249 2300 or email hello@glanvilles.co.uk Whatever your property goals, we're here to guide you through the process with confidence, clarity and care.
Article submitted by Holly Armstrong, Senior Solicitor within our Residential Property team.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute, legal advice, and should not be relied upon as advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. All content was correct at the time of publishing. Legal advice should always be sought in relation to specific circumstances.