Finance glossary
Freehold
Also known as: Freeholder
In simple terms
If you own a property freehold, you own the building and the land it sits on outright, with no time limit and no landlord — so there is no ground rent or lease to worry about.
On this page
What does freehold mean?
Freehold means you own the property and the land it stands on outright and indefinitely. You are the “freeholder”, and there is no lease and no landlord above you. Most houses in England and Wales are sold freehold.
It is one of the two main forms of property ownership in England and Wales, the other being leasehold.
How freehold works
As a freeholder you are responsible for the whole property — the building, the roof and the land — including all maintenance and insurance. There is no ground rent or service charge to a landlord, and no lease that runs down over time.
Flats are more often leasehold, because a shared building needs someone to manage the common parts. Some flat owners hold a “share of freehold”, jointly owning the freehold of the whole building with the other flat owners.
How could this affect me?
Owning freehold gives you the most control and avoids the ongoing costs and complications of a lease. It is generally seen as the simpler, more valuable form of ownership.
The flip side is that all repairs and maintenance are your responsibility and cost — there is no landlord or management company to organise (or charge for) work on the structure.
Things to watch out for
- You are responsible for all maintenance and insurance of the whole property.
- A “share of freehold” flat still has a lease, so the usual leasehold rules can still apply.
- Check whether any shared access, drains or boundaries carry obligations to neighbours.
General information, not personal advice
Consumer Credit is an independent information service. We do not provide regulated financial advice or sell financial products. For advice on your own situation, speak to an appropriately authorised firm or a free service such as MoneyHelper. About Consumer Credit.
Sources
We checked this page against these official and authoritative sources.
- GOV.UK, Leasehold and freehold property (opens in a new tab). Accessed 22 Aug 2026.