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What does freehold mean. i am thinking of buying property abroad but i don have clue where to start.?

April 26, 2017Business buying Estate Finance Freehold mean Property renting thinking

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What does freehold mean. i am thinking of buying property abroad but i don have clue where to start.?

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free hold is when you not only own the house but you also own the land it stands on and you do not have to pay the land owner the lease fee .if you have a lease you still own the house but have to pay the lease every year leases are for long term rent of the land and can be extended to 99yrs on purchase of the property. you still have to pay a mortgage for the price of the house,if you pay cash for the house you only have the lease to pay every yearwhich you will find is not very much.

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freehold means you can buy or mortgage the property outright. the alternative is leasehold which is like long term rent, if you need more, just ask via my yahoo using my posted name. good luck.