A freeholder is a person or company that owns the freehold of the building. This means that if you own your property on a lease, the freeholder will own the property outright. They are usually responsible for the repair and maintenance of the exterior and common parts of the building. A freeholder is also called a landlord. It is possible to have an intermediate lease which could mean that your landlord would be different from the freeholder.
This essentially means that you will have a lease over your flat as well as a share in the freehold of the whole building. This may be a share in a company that owns the freehold. Alternatively the freehold may be held by up to four individuals. It is important to understand the responsibilities involved in having a share in the freehold which may include liability with others to repair and maintain the exterior of the building and the common parts.
Generally, you will be a qualifying tenant, if your lease was more than twenty one years when originally granted and you have been the registered owner of your flat for two years. Please note that if your freeholder is the Crown, National Trust or part of a building within a cathedral precinct your flat might be excluded from the right to extend your lease but specialist advice should be taken.
For further information please contact us. at John Hoole estate agents.