19 May 2025
What Is a Share of Freehold?
When you purchase a flat with a share of the freehold, you’re buying more than just your individual property, you also own a portion of the freehold for the entire building.
This freehold ownership is usually shared between the flat owners in the block, giving you collective control over how the building is managed and maintained.
In contrast to traditional leasehold arrangements, this can offer more independence and reduce the risk of dealing with an unresponsive or costly landlord.
How Does It Work?
If you own a share of the freehold, you and the other freeholders are jointly responsible for the upkeep and management of the building. These responsibilities are outlined in the lease and are supported by property law.
Not keen on hands-on management? No problem. You can appoint a professional managing agent to handle the day-to-day running of the building. Costs for this service are usually shared between all the flat owners, as agreed in the lease.
Share of Freehold vs Leasehold: What’s the Difference?
Do I Still Need to Extend My Lease?
Yes. Even if you own a share of the freehold, your flat remains a leasehold property. A shorter lease can reduce the value of your flat and may affect mortgage eligibility. For these reasons, many lenders and buyers will still expect a long lease term.
Talk to Our Property Law Experts
Whether you’re buying a flat with a share of the freehold or looking to acquire a share in a building you already live in, our team are here to help.
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