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Leasehold

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unique55001 | 01:45 Mon 02nd May 2005 | Business & Finance
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What dose leasehold means ?
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Basically that although you may live in your flat/part of the house, there is another owner, who is in charge of the whole building. With leasehold properties you probably have to pay ground rent or charges such as cleaning of hallways or gardening.  The lease will be for a certain number of years, so avoid flats with a short lease as they will be harder to sell on.
10:12 Mon 02nd May 2005

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