5 things to know when buying a leasehold flat
Advice

5 things to know when buying a leasehold flat

Leasa Foster Leasa Foster
2 min read

The two most common ways to own a property are freehold or leasehold. The freeholder of a property owns it outright, including the land it is built on. With a leasehold purchase you will have a legal agreement (a ‘lease’) with the freeholder under which you will own the property for a set period of time (the term).

What should you know when buying leasehold?

  1. Lease term

Historically, many leases were granted for 99 or 125 years, but currently leases are normally longer. If the lease has a term remaining of less than 80 years, you may struggle to get a mortgage. Once you have owned a leasehold property for more than two years, you will normally have the right to extend the lease by an additional 90 years. If the remaining lease term falls below 80 years, you still have the right to extend, but the price due to the freeholder will be higher.

  1. Ground rent

An annual ground rent may be payable. This can increase depending on the wording of the lease. If the rent is over £250 per year this may need to be reported to your mortgage lender including any rent increase provisions.

  1. Service charge

You will need to pay a share of the costs of maintaining and insuring the building plus the communal areas, including heating and lighting. The amount will vary annually.

  1. Other charges

The landlord and/or managing agent will also charge various fees in connection with your purchase. Your conveyancer will supply further details.

  1. Restrictive covenants

The lease will include various restrictions and obligations. Your conveyancer will send you a copy of the lease and will highlight any unusual clauses. You will need to read the lease carefully and let your conveyancer know if any of the restrictions and obligations will affect your enjoyment of the flat.

Buying a leasehold flat requires careful consideration. It is always advisable to discuss a leasehold purchase with an experienced conveyancer. Remember to budget for the ‘extra’ leasehold costs accordingly.

Speak to the conveyancing team on 0113 320 5000 or email conveyancing@winstonsolicitors.co.uk

Client feedback

I found Sidraa to be very thorough, proactively raising questions about the conveyance even before I had asked her myself. All communication was clear and regular updates provided, which was very helpful.It was a stressful process (what house move isn’t!)due to an issue dragging on, no fault on the Solicitors’ part but meant exchange and completion in quick succession! Ultimately, Sidraa and Tom worked very hard to achieve the completion date everyone wanted so thank you 🙏
Dorothy
Leasa and the team at Winston solicitors have been really good. Leasa was very thorough in her work helping me with my house purchase. I can highly recommend her and Winston solicitors for conveyancing.
Maria
Winston Solicitors are the best solicitor firm I have dealt with. They helped sell my house. Sidraa and Tom were always communicating with me and turned things round quickly when I was going out of the country. I would definitely use them again and that’s not the case usually with solicitor firms.
Rob
Quick working & lovely solicitors. Would definitely recommend :)
Ben
Samantha was always very helpful, I frequently had questions as a first time buyer so would regularly call just to ask what things meant on the various forms and documents I had to sign. I would either get through to Samantha herself or to Paulo so there was always someone available. I would only say that as a first time buyer I was very naive to the process, and only found out I had missed an important step in the mortgage application through a reminder from Winstons asking if I had done it yet. Otherwise a very positive experience overall.
Anonymous
I cannot praise Winston Solicitors highly enough,I would recommend them to anyone buying or selling their property. They were very professional and very supportive at all times. I would like to take this opportunity to thank Sidraa Razaq and Tom Mcllroy for their professionalism and patience at all times.
JANET
Samantha is simply the best!
Derek
I'm extremely satisfied with the service provided. The quoted cost was adequate and not overpriced. Very responsive personnel which resulted in a very quick purchase. Thank you Leasa - November 2025
Dayana D, Yeovil
Contact us