As fees for the service are partially based on property value, a market slump could be the perfect time to extend a lease
(Picture: Shutterstock / rodrigobark)Leasehold properties — usually flats — make up 20 per cent of the housing stock in the UK with an estimated 4.86 million homes in the UK subject to the arrangement.
The term refers to a temporary right to lease land or property from a freeholder, which historically involved paying ground rent.
