Leasehold

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)

Owning a property for a fixed term under a lease rather than owning the land outright forever, with associated obligations.

Related glossary terms

Mortgage Advance

The actual money released by the lender at completion, sent to the conveyancer to be used towards the purchase or refinance.

Private Bank Mortgage

A mortgage through private banks for borrowers with significant assets, complex income, international wealth, or a bespoke borrowing need.

Mortgage Offer

The lender’s formal written commitment to provide a mortgage on specified terms once underwriting and supporting checks are complete.

Country Restrictions

Lender policy rules limiting applicants’ residence, employment, or income countries, varying significantly across specialist markets.