Q.  WHAT IS A LEASEHOLD PROPERTY?

A.  Virtually all flat owners are leaseholders, even if they own a share of the freehold. Some new houses are leasehold, particularly if they are within a newly built development. If you are a leaseholder, you own the lease to your home, but the Freeholder is the legal owner of the land on which the building is situated.

Q.  WHAT IS THE LEASE?

A.  The lease is a legal contract between the Freeholder and the leaseholder. It explains the rights and responsibilities both you and the Freeholder have.

Q.  WHAT IS GROUND RENT?

A.  Ground Rent is a fee you have to pay the Freeholder as a condition of your lease.

Q.  WHAT ARE SERVICE CHARGES?

A.  Service charges cover your share of the cost of maintaining the building you live in. They cover items such as repairs, cleaning and shared amenities. They sometimes cover buildings insurance as well, but you may pay this separately.

Q.  WHEN DO I NEED CONSENT FROM THE LANDLORD?

A.  In the majority of leases, you are required to obtain consent from the landlord to:

• Sub-let your property
• Undertake alterations at your property
• Changing windows at your property
• Keeping pets at your property
• Installing a satellite dish or an aerial at your property