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ARTICLE · 03 FEBRUARY 2020

With... A Property In Mind - January 29, 2020

Withers LLP
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Before you can decide whether the property is the one you want to buy and whether the price is right, you will need to know the sort of property you are buying.

United KingdomReal Estate and Construction
Henry Stuart
Henry Stuart
Paul Brecknell
Paul Brecknell
Bertie Hoskyns-Abrahall
Bertie Hoskyns-Abrahall
Nicholas Vaughan
Nicholas Vaughan
Edward Jarron
Edward Jarron
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Before you can decide whether the property is the one you want to buy and whether the price is right, you will need to know the sort of property you are buying. It may be:

Freehold – most houses are freehold, meaning that there is no restriction on the period of ownership and there is no obligation to pay rent; or

Leasehold – all flats and some houses are leasehold, meaning that they are owned for a fixed period of time and are subject to a liability to pay rent and other charges to a landlord.

If the property is leasehold, you will generally have the right to extend your lease or buy the freehold under Leasehold Reform legislation.

These are the stages in buying your property:

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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