Risks Buying Leasehold Property May 2026

to look for in a lease agreement (e.g., doubling ground rent) Steps for extending a lease before it hits the 80-year mark The difference between Leasehold and Commonhold structures

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Mark and Sarah thought they had found their dream home: a sun-drenched flat in a converted Victorian villa. The price was significantly lower than similar freehold houses in the area, which allowed them to keep a healthy savings buffer. They knew it was a leasehold, but the estate agent assured them that with 82 years left on the lease, they had plenty of time before needing to worry. to look for in a lease agreement (e

Six months after moving in, the first "hidden" cost arrived. A letter from the freeholder announced a "major works" project to repair the roof and repoint the brickwork. Mark and Sarah’s share of the bill was £15,000, payable within ninety days. They checked their lease agreement and realized that while they "owned" the space inside their walls, the freeholder had absolute discretion over building maintenance—and the leaseholders had to foot the bill. Six months after moving in, the first "hidden" cost arrived