By the name we can tell which one is better.Obviously,Freehold Property!
Lease means a contract by which one party conveys land or property to another for a specified time.(In Short)~you are bounded from the rights of ownership.
And,Freehold means having the full right of ownership on the property.
Ownership is not the only criteria.Freehold is preceding leasehold in many aspects,Like:
- Freehold property are much Easy to Transfer.
- 95% of the Loan applications are only accepted of the freehold properties.
- Freehold properties possesses a much higher resale value,more than 20-30%.
- Free from paying ground rent,you can save tons of money in your monthly budget.
We eDrafter provide the service for Conversion of Leasehold Property to Freehold. We handle Full case from drafting the file to registering the Conveyance Deed. To Know more Kindly proceed to our this section – Leasehold to Freehold Conversion of DDA Property
We hope that now from our this blog the difference of freehold over leasehold gets clear in your mind. If you have any question regarding this kindly comment on our blog we will surely help you with.
Thanks for reading.
Have a good day….!