What type of property?

Fee simple or freehold properties:

Free hold properties are the one where you are the owner of the land as well as building. You get the certificate of title and that’s the evidence of your ownership.

Leasehold Properties:

When the homeowner only owns the building and rents the land, those properties are called Leasehold properties. This is another option and its way cheaper. Leasehold can be really a good option for those who want to live in the nice areas with a quality lifestyle, or else they would not have afforded. In other way, it’s little tough to get a mortgage because it’s just secured against the building alone. Banks lends up to 65% that means the deposit required is bigger. There is one more thing about this option to think about is if the land rent goes up or the owner wants it vacant.

Cross Lease:

Cross lease properties usually feature two or more flats built on one parcel of land. As an owner of the cross lease property, you are bound by the terms and conditions in the lease document registered against your title.

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