Buying a Leasehold Property

Buying a leasehold property can be a smart move, but it does come with additional considerations that are easy to overlook if you are unfamiliar with how leases work.

In Hemel Hempstead and across Hertfordshire, leasehold homes are most commonly flats, but some houses are also sold on a leasehold basis. Understanding what you are buying is essential before committing.

What does leasehold actually mean?

When you buy a leasehold property, you own the home for a fixed number of years set out in the lease. The land itself remains owned by the freeholder.

The lease sets out your rights, responsibilities and obligations, including what you can and cannot do with the property.

How long is left on the lease?

Lease length matters more than many buyers realise. Shorter leases can affect mortgage availability and resale value.

As a general guide, leases below 80 years can become more expensive to extend and may deter future buyers.

Service charges and ground rent

Most leasehold properties come with service charges, which contribute towards maintenance of communal areas, buildings insurance and long term repairs.

Ground rent is a separate charge payable to the freeholder. While often modest, it is important to understand how and when it can increase.

Restrictions and permissions

Leases often include restrictions around alterations, subletting, pets and even flooring choices. These may not be deal breakers, but they should align with how you plan to live in the property.

Why local advice matters

Lease structures vary widely. Some developments in Hemel Hempstead have well run management companies, while others require closer scrutiny.

Understanding what is typical locally can help you spot potential red flags early.

Download the full guide

Our detailed leasehold buying guide walks through the key questions to ask, documents to review and pitfalls to avoid before you exchange contracts.