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Freehold

Freehold

Portrait of Justin Whitelock, founder of Mortgage London, standing in a park

By Justin Whitelock

Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)

Ownership of a property and the land it stands on for an unlimited period, rather than for a fixed lease term.

Related glossary terms

Underwriting

The lender’s process of assessing a mortgage application to decide whether the case fits its lending criteria and risk appetite.

Contractor Mortgage

A mortgage assessed using contractor income, evaluated through day rate, contract value, or fixed-term contract income rather than conventional criteria.

Repayment Mortgage

A mortgage where each monthly payment covers both interest and part of the amount borrowed, the standard UK structure.

Completion

The legal stage at which property ownership transfers from seller to buyer, with mortgage advance and any remaining purchase funds paid through the conveyancers.