Buy House Uk Apr 2026

In the UK, Freehold means you own the building and the land. Leasehold means you own the right to live there for a set term (often 99 or 999 years) but pay ground rent or service charges to a freeholder.

Note: In England and Wales, the deal isn't legally binding until the exchange of contracts. In Scotland, the process (missives) becomes binding much earlier. 4. Legal and Technical Due Diligence buy house uk

You and the seller sign the contracts, and your deposit is transferred. At this point, pulling out results in heavy financial penalties. In the UK, Freehold means you own the building and the land