EXPERTS
Agony agent Readers put their property questions to our guest panel of experts: solicitors, mortgage advisers, property gurus and shared ownership providers
THIS MONTH’S PANEL OF EXPERTS
Paula Higgins , Chief Executive, HomeOwners Alliance
Adrian Plant , Shared Ownership & New Homes Director, SOWN
What is leasehold? Q I am buying my first home and would like to understand what leasehold actually means for a homebuyer? Archie Brook, Leicester A You own the flat for a set time (typically 90 to 120 years), but not the building or land, which are owned by the freeholder. Once the lease falls below 80 years, extending it becomes costly and the property can lose value – so ideally, look for leases with 85+ years left. Key things to check: • Lease Length. Short leases are expensive to extend and harder to sell or mortgage. • Ground Rent and Service Charges. Check current costs and whether they’re set to rise. Avoid ground rent over 0.1% of the property price or any that double every 10 years. • Lease Restrictions. Look for rules about pets, home businesses or alterations. • Freeholder Reputation. Research how well the building has been maintained and whether charges are reasonable. • Cladding and Safety. Ask if the building has been assessed or if future work is planned – these issues can lead to high bills or delays selling. Leasehold reform is coming… New laws aim to make leasehold fairer – like cheaper lease extensions and more transparency – but not all reforms are in place yet. Use a solicitor with leasehold experience to spot red flags. Expect to pay higher legal costs than for a freehold. Can you buy the freehold? Possibly. In some blocks, you and your neighbours may be able to buy it together – called collective enfranchisement – giving you more control, though it can be costly and complex. Final tip: Leasehold isn’t bad – just be thorough and well-informed before you buy. And make sure you instruct a solicitor or conveyancer you trust.
Steve Hird , Director, Edward Thomas Interiors
TEST THE PANEL
We need your questions... If you have any queries, or difficulties in understanding the property buying process, our panel of experts is waiting to help. Send our team your questions on buying property, shared ownership, legal issues, or your financial problems and we’ll find the best person from the panel to give the advice you need.
Email your questions to: lynda@ rsttimebuyermag.co.uk
The HomeOwners Alliance is a property advice website that provides expert advice, tools and services for all the key moments of buying or selling a home.
Paula Higgins
106 First Time Buyer October/November 2025
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