Understanding Leasehold Property: Key Points and Advice

by Linda Kirk Most houses are freehold, but most flats are leasehold. When you buy a leasehold property, you're purchasing the right to inhabit it for the term of the lease, not the property itself. Here are some frequently asked questions about extending your lease: Lease Terms and Importance of Extension Lease Duration: Lease terms can vary significantly. Some are for 999 years, while others…