Is my property Leasehold?
A Leasehold is a property which has been purchased without the actual land it is sat on. So this means that each year the owner must pay Ground Rent to the Land owner.
A Freehold is a property, which has been purchased with the land it is sat on. Therefore, the owner does not owe Ground Rent to anyone else.
Leasehold is a relatively new concept, which mainly affects new build property. Years ago most houses were sold with the land they were built on. In more recent times, as land is now at a premium, property developers and landowners have found a way to ensure that their land remains profitable even after building on it.