Property guide

You own the property and the land it stands on outright, with no time limit and no landlord.

You own the right to live in the property for a fixed number of years under a lease; the freeholder owns the building.

Leaseholders of flats can usually extend by 90 years at a zero ground rent; houses by 50 years. Costs rise sharply below 80 years.

Flat owners can club together to buy the building's freehold; house leaseholders can often buy theirs.

Commonhold lets flat owners own their flat outright and run the building together, with no landlord. It's rare today but may become the norm.

What leaseholders pay, how to challenge it, and the consultation rules for big bills.

Buy a share (often 10% to 75%) and pay rent on the rest to a housing association. Always leasehold.

Joint tenants own everything together; tenants in common own set shares. It matters if you split up or one of you dies.

Offer, solicitor, mortgage, survey, searches, enquiries, exchange, completion. Usually 12 to 20 weeks.

The lender's valuation is not a survey. RICS Level 2 suits most homes; Level 3 suits older, larger or altered ones.

At a traditional auction the hammer means exchange: you're committed, pay about 10% that day and usually complete within 28 days.

Scotland has a different legal system and process; Northern Ireland differs in places. This guide covers England and Wales.

Planning decides whether you can build; building regulations decide how it's built safely. They're separate.

Work on a shared wall, or digging near a neighbour's foundations, usually needs notice under the Party Wall etc. Act 1996.

Others may have rights over your land, and you may be bound by promises made by past owners.

What EPC ratings mean, the landlord minimum (E now, C from 2030), and the main grants and tax breaks for upgrades.

Since 1 May 2026 the Renters' Rights Act 2025 governs most private tenancies: periodic tenancies, no 'no-fault' evictions, rent rises once a year.

Wales uses the Renting Homes (Wales) Act 2016: 'occupation contracts', and every landlord must register with Rent Smart Wales.

5 or more people from 2 or more households need a mandatory HMO licence; councils may license smaller HMOs too.

Criminals hack email and pose as your solicitor or agent to change the bank details, often on a Friday near completion. Never trust bank details sent by email.

Fraudsters can pose as an owner to sell or borrow against a property. Empty, rented or mortgage-free homes are most at risk. Free alerts and a restriction help.

Fake listings ask for money before a viewing. In England a holding deposit is capped at one week's rent and most other fees are banned.

"Guaranteed" returns on hotel rooms, student pods, care home rooms, storage units, parking spaces or land plots are classic warning signs. Many are unregulated schemes; some are frauds.

The things buyers most often regret: skipping the survey, not reading the lease, missing building approvals, and underestimating costs.

England and Northern Ireland pay SDLT; Wales pays LTT; Scotland pays LBTT. First-time buyer relief exists only in England and NI.