In a freehold - you own the land and the building completely. In a leasehold - you own just a right to live in the property for the duration of the lease, at the end of which you own nothing so if you buy a leasehold flat you buy the right to live there but you don’t actually own the property. Generally being a freeholder is more desirable. Freeholders can have responsibilities in the deeds if there are other leaseholders present e.g. where you own a building but sell the flats individually to different owners who each get a leasehold of their own flat. Leaseholders in a block with several properties often choose to buy the freehold between them, giving them each a share of the freehold and more control over the management of the property. Share of freehold means that when you buy the lease on a flat, it comes with a share of ownership of the building. ‘Commonhold’ ownership is a new system allowing you to own your flat outright in the same way as a freeholder owns a house so there is no landlord to pay. At the same time you will have a share in the common areas of the building including the roof, walls, stairs and hallway - and be partly responsible with the other commonholders for the upkeep of those areas. The idea is that a commonhold association is set up to manage the communal areas of the building and flat owners who don’t want to get involved in the extra work can appoint a managing agent. The price of a commonhold flat could well be higher than a leasehold one, but any difference is likely to be small. This would come from the fact that leaseholds dwindle over the years and so the nearer they get to the end, the less they are worth. Commonholds are open-ended.