How to obtain a lease extension

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I'm this video, I explain what Freehold and Leasehold actually means, and the differences between them. • It is common to get confused between a Freehold and Leasehold and the relationships surrounding those words. • Freehold is a tenure that relates to owning the land and buildings that sit on said land. Being a Freeholder usually means that are the lord of the that land (not an actual Lord though), or the Landlord which is another name for it. • Leasehold is a tenure whereby you own the space within a building for a set period time. In most cases this applies to flats. You essentially hold a contract or a lease that says you have the right to be here for a period of time. But, as with any contract, when it comes to end you have to leave and that space then goes back to the Freeholder who owns the building. Normally leases are for a long time, like 99, 125 years or even 999 years sometimes, but its always better to check. • Freehold is usually a more valuable tenure because you own it into perpetuity ( forever ). • If you want to learn more about property in the UK, subscribe to my channel, where I'll be putting out FREE educational videos that will help you understand the industry in more detail. • If after watching the video, you have questions, put them in the comments below 👇🏼👇🏼 • If you like the video, like the video and definitely consider subscribing to keep up to date with my new content. • Follow me Instagram where i put out little nuggets of knowledge as well: • / rw__property • CREDITS: • Music: www.bensound.com

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