- A leasehold is ownership for a fixed period; when the lease ends, the property goes back to the landlord unless it's extended.
- Check the years left on the lease, the ground rent, the service charge and any restrictions before you offer.
- Since 31 January 2025 you no longer have to own a leasehold home for two years before claiming a lease extension or the freehold.
- A draft bill published in January 2026 proposes capping existing ground rents at £250 a year — it isn't law yet.
The different types of ownership
| Tenure | What it means |
|---|---|
| Freehold | You own the building and the land it stands on, with no end date. |
| Leasehold | You own the home for the length of the lease. The freeholder (landlord) owns the building and land. |
| Share of freehold | You hold a lease, but you and other leaseholders jointly own the freehold — often through a company. |
| Commonhold | You own your flat outright and share ownership of the common parts with the other owners through an association. |
GOV.UK explains that you only own a leasehold property for a fixed time, that most flats are leasehold, and that houses can be too — for example through shared ownership (GOV.UK: leasehold property).
What to check before you buy
- Years left on the lease. Lenders have their own minimum lease lengths, and a short lease can make a home harder to mortgage and sell. Ask your conveyancer and lender before you offer.
- Ground rent — the yearly amount paid to the freeholder, and whether and how it rises.
- Service charge — your share of maintaining the building, plus any reserve fund or planned major works.
- Restrictions in the lease on letting, pets, alterations or short lets.
- Who manages the building and how responsive they are.
Our listings show the lease length, service charge and ground rent in the material information panel when the advertiser provides them.
Your rights as a leaseholder
Leaseholders can often extend their lease, buy the freehold together with other leaseholders, or take over management of the building through the Right to Manage. The Leasehold Advisory Service gives free advice on these rights.
Leasehold reform: where things stand (September 2026)
The Leasehold and Freehold Reform Act 2024 is being brought into force in stages:
- From 31 January 2025, you no longer have to have owned your home for two years before claiming a lease extension or the freehold.
- From 3 March 2025, changes to the qualifying rules for the Right to Manage took effect, including allowing buildings with up to 50% non-residential space to qualify.
- Other parts — including new valuation rules that would abolish 'marriage value' — have not yet been brought into force, and no date has been set.
On 27 January 2026 the government published a draft Commonhold and Leasehold Reform Bill. It proposes capping existing ground rents at £250 a year, falling to a peppercorn after 40 years, abolishing forfeiture, and making it easier for existing leaseholders to convert to commonhold (GOV.UK: draft bill, announcement). A draft bill is not law — the details may change before any bill is passed.