Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Freehold as it relates to mortgages in the UK. FreeholdA Freehold is when the owner of the property also owns the land that the property is built upon. The person owning the Freehold, is know as the Freeholder. Because each piece of land can only have one freeholder, then if there are multiple flats on a plot of land, then they will generally either share the freehold, or they will each have a leasehold.
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