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What does buying a leasehold actually give me?

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Leasehold ownership is a kind of long tenancy. It means that you can use the property for a period specified in the lease contract. At the end of the period the property becomes the possession of the freeholder. Leasehold properties are usually flats, but some of them are houses. The freeholder is responsible for the maintenance of the building, but the costs of repairs are covered through the service charges paid by the leaseholders.

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