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Should you get a leasehold property?

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ended 29. September 2026

Hello, please can we get comments on whether it's worth buying a leasehold property? The story will be pegged to the Government's new leasehold reforms - https://www.bbc.co.uk/news/articles/cjr4vgnq71kpo. 

What are the pros and cons, and how much difference will these reforms make?

Thanks!

8 responses from the Newspage community

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Tracey DixonVerified
Buy-to-Let Mortgage Specialist & Owner at Pure Mortgage and Protection
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Leasehold itself isn’t a reason to walk away from a flat. The question is what you’re signing up to. I’ve seen buyers focus on the purchase price, only to discover that a short lease, rising service charges or planned building works change both the cost of owning it and the lenders willing to consider it.

The reforms could make ground rents fairer and charges easier to scrutinise, which would be welcome. But they won’t make every flat mortgageable or remove the need to investigate the building. I’d ask for the lease and management information early, before spending money on a mortgage application and conveyancing.
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Hannah VandervenninVerified
Director - Mortgage Adviser at The Mortgage Consultancy
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Would I buy a leasehold property? Yes, if the lease and the numbers stacked up. Would I buy one hoping future reforms will rescue a bad deal? Absolutely not.
Leasehold flats are an important part of the housing market, and shared buildings need managing. But buyers can have surprisingly little control over the costs and restrictions attached to their home. We’ve seen rising ground rents cause mortgage problems and lease terms get in the way of buy-to-let plans. Add service charges, major works and building safety questions, and you need to know exactly who is responsible for what.
The reforms are welcome, but they won’t fix every lease overnight. My advice is to scrutinise the lease, the building and the likely future costs before making an offer. If the deal only works because you’re banking on the law changing, it doesn’t work for me.
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Michelle LawsonVerified
Director at Lawson Financial
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Leasehold properties do tend to take a bashing and some rightfully so- that doesn't mean you should run a mile. The costs of running a Freehold have increased. Covering the costs of insurance, communal maintenance and, for those affected following Grenfell, things like NightWatch and remedial work, has to be factored in. The most costly leaseholds are those run by the local authorities and external management companies as, they too, have to take their cut. This isn't taking into account the costs of lease extensions either! That said, there are usually small pockets of properties where there are low/no management costs and lengthy leases as well as the Freeholds run by the residents. When run by the residents, they have the block interest at heart rather than corporate maintenance agreements. Ultimately, do your due diligence before buying and a good broker will help give you the guidance you need and questions to ask.
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Stephen PerkinsVerified
Norwich Mortgage Broker and Managing Director at Yellow Brick Mortgages
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Buying a leasehold property isn't automatically a bad idea, but buyers need to remember they're effectively buying a home and taking on a long-term contract at the same time. The purchase price is only part of the cost.

Before committing, look closely at the remaining lease length, ground rent, service charges, reserve funds and any planned major works, because these can affect both affordability and future saleability. The reforms should give leaseholders greater transparency and stronger rights, which is welcome, but they won't make every leasehold property a good purchase. The individual lease still matters enormously.
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Nouran MoustafaVerified
Practice Principal & IFA at Roxton Wealth
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Leasehold is not automatically a bad purchase. A bad lease is.

For many buyers, especially those buying flats, leasehold can provide access to locations and properties they simply could not buy as freehold. The downside is that you are buying the property with another layer attached: lease length, service charges, ground rent, management quality and restrictions can all affect affordability, mortgageability and resale.

The reforms should materially improve the position, particularly longer 990-year extensions, removing marriage value and giving leaseholders greater transparency over charges. But buyers should not assume every problem disappears overnight. Much of the framework still needs implementing.

My rule is simple: never assess only the flat. Assess the lease and management company with the same seriousness as the property itself.

A beautiful property with a terrible lease can become a very expensive mistake.
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Dariusz KarpowiczVerified
Director at Albion Financial Advice
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If a freehold is available at a similar price, buy the freehold. Leasehold hands you a home plus a contract someone else controls, and every few years a minister promises to fix it. The 990-year extensions and scrapping marriage value will help, but much of the framework still needs implementing. You are buying today's lease, not tomorrow's law.

I would only go leasehold where freehold prices are genuinely out of reach. Even then, check the remaining lease length, five years of service charge history and the reserve fund before you fall for the kitchen.
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Louis MasonVerified
Content and Communications Director at Oportfolio Mortgages
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Leasehold properties shouldn't be treated as second-class homes. Particularly in London, buying a flat is often the most realistic route onto the property ladder, and a well-managed leasehold property can be a perfectly sensible investment.
The devil, however, is in the detail. A cheap purchase price can quickly become an expensive mistake if you're inheriting a short lease, escalating service charges or an uncooperative freeholder. These issues can also make securing a mortgage or selling the property further down the line considerably harder.
The Government's proposed reforms are a welcome move towards giving homeowners greater control and protection against excessive fees. But buyers shouldn't mistake proposed legislation for protection they already have.
My advice is simple: don't be put off by the word leasehold, but don't fall in love with a property before you've properly investigated the lease. What you're agreeing to is just as important as what you're buying.
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Elliott BensonVerified
Owner at Sett Mortgages
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There are a lot of hoops to jump through with leasehold both legally and from a mortgage perspective. Lenders and surveyors do not make it easy if you are buying city centre apartments especially and even then some conveyancers will turn the work away if the block is too high. That being said though, I have dealt with a lot of apartments over the past few years and they do still appreciate in value and there is demand, as long as you are ok with it being an unavoidably stressful process I wouldn't say they needed to be steered away from