If you’re thinking of selling your leasehold property, you might have heard it’s a bit more complicated than selling a freehold home. While that’s true to an extent, it’s nothing to worry about, as long as you’re prepared.
We’ll walk you through what makes leasehold sales different, how the process works, and how to make things run as smoothly as possible.
What is a leasehold property?
A leasehold property is one where you own the property itself — usually a flat — but not the land it sits on. That land is owned by a freeholder, and your ownership only lasts for the length of the lease.
When you buy a leasehold home, you’re essentially buying the right to live in it for a set number of years. Once the lease ends, ownership technically returns to the freeholder, although in practice, most people extend or renew the lease long before then.
Leasehold is most common with flats and maisonettes, but some houses are leasehold too.
What is the difference between selling a leasehold and a freehold property?
With a freehold property, you own both the building and the land it’s on outright, so selling it is relatively straightforward.
With a leasehold, there are a few more steps involved:
- You’ll need to check how much time is left on the lease
- Certain documents must be provided to the buyer and their solicitor
- You may need to pay fees to the freeholder or managing agent to supply those documents
- Leasehold terms and service charges will be scrutinised by the buyer’s legal team
None of these are deal breakers, but they can take time, so planning is key.
Is it hard to sell a leasehold property?
Not necessarily. Leasehold homes sell all the time. But there are a few things that can make the process harder:
- Short leases (under 80 years) may put off buyers or make mortgage approval harder
- High ground rent or service charges can raise red flags
- Complex lease terms, such as restrictions on pets or subletting, may reduce buyer interest
The good news? Many of these issues can be addressed with the right preparation and professional advice.
Selling a leasehold property: The process
Arrange a property valuation
Start by arranging a property valuation. An estate agent with leasehold experience will understand how your lease length and other factors might affect value.
You can book a free valuation with your local Ellis & Co branch here.
Know the length of your lease
Find out how many years are left on your lease — this is crucial. If it’s under 80 years, buyers may ask for a lease extension as part of the sale, or reduce their offer accordingly.
Your lease length will be listed in the official copy of the leasehold register, which your solicitor can provide.
Make sure you have all the necessary documents
Buyers and their solicitors will want to see:
- A copy of the lease
- Ground rent and service charge details
- Buildings insurance information
- Any notices from the freeholder or managing agent
- Accounts and maintenance schedules (if managed by a company)
It can take time to gather these, so don’t leave it until after you’ve accepted an offer.
Speak to a conveyancer
Choose a solicitor or conveyancer with leasehold experience. They’ll help you understand what’s needed and can request a leasehold information pack from the managing agent or freeholder.
Speak to solicitors and choose an estate agent
Your estate agent will handle marketing and viewings, but they also play a key role in explaining the lease to potential buyers. Make sure they understand your lease terms and any unique conditions.
Prepare for viewings and property photos
Leasehold flats often share common areas, so make sure communal spaces are tidy, well-lit, and clear of clutter before photos and viewings.
Inside your home, aim for neutral décor and minimal personalisation to help buyers visualise themselves living there.
List your home
Once you’re ready, your agent will list the property online — ideally with clear reference to the lease details, service charges, and any other important features like allocated parking or shared gardens.
Browse current properties for sale.
Negotiate and accept an offer
When offers come in, your agent will help you weigh up the pros and cons — including how ready the buyer is to proceed and whether they’re using a mortgage lender comfortable with leaseholds.
Be prepared for questions about your lease and costs. If everything is in order, this step should be straightforward.
Exchange contracts and completion day
Once the buyer’s solicitor is happy with the paperwork and mortgage arrangements are in place, you’ll exchange contracts, making the sale legally binding.
Completion usually happens a week or two later. That’s when the balance is paid, and you hand over the keys.
Are you thinking of selling?
Selling a leasehold property doesn’t have to be complicated. With the right team on your side and early preparation, it can be just as smooth as selling any other home.
If you’re thinking about selling, get in touch with your local Ellis & Co branch today. We’ll guide you every step of the way — from valuation to completion.
Further reading from Ellis & Co
- Is my house ready to sell?
- Should I accept an offer on my house?
- Selling a leasehold property: Key considerations
