What's new

There are many terms to learn when you're buying a home for the first time. Freehold and leasehold, which describe how a property is owned, are two you'll see a lot. But there's a third and lesser known type of ownership: commonhold.

Commonhold is new. It's an alternative to leasehold, which is the most popular way to own a flat.

You can own a home in different ways. Normally, you can buy your home on a freehold or leasehold basis.