From this video you will gain a better understanding of freehold and leasehold ownership. I also explain the issues with leasehold ownership and provide tips for buyers (especially first time buyers) who may be considering this type of property.

CONTENT
Welcome 00:00
What’s a leasehold property? 01:13
What’s a freehold property? 02:43
What are the problems with leasehold properties? 03:59
Ground rent 04:12
Service charge 06:55
Diminishing lease term 08:37
Historical building issues 09:11
Alterations 10:11
Restrictions 10:54
Lease enfranchisement… 11:42
Statutory lease extension 11:57
Collective enfranchisement (buying freehold) 14:17
Market value: freehold vs leasehold 16:12
Takeaways 18:06

LINKS USED/MENTIONED
Lease extension process    • Lease Extensions Explained | How to E...  
Leasehold or freehold https://www.moneyadviceservice.org.uk...
Ground rent issue https://www.tsp.co.uk/news/thegbp25...
Freehold vs leasehold value difference https://www.moneysavingexpert.com/mor...

ABOUT ME
I'm Lemuel. I'm not a financial advisor. I'm not an expert. I'm just a regular guy that enjoys talking about how we can do better with money.
If you want to learn more about how you can do better with money, then subscribe to the channel and hit the notification bell so you get an alert whenever I upload a video.

TOPICS
ground rent, service charge, diminishing leases, leasehold, freehold, freehold vs leasehold, lease enfranchisement, collective enfranchisement, statutory lease extension, leasehold property, freehold property, the problems with leasehold, extending your lease, buying the freehold, leasehold ownership, leasehold tips for first time buyers, short leases


DISCLAIMER
This video is not meant to address the specific circumstances of any particular individual. It is created for educational purposes only. You should not rely upon it as legal, financial or professional advice, or a substitute for it. I do not accept any liability whatsoever for errors, omissions or misstatements contained therein. You should consult a suitably qualified professional if you require specific advice or information.