Buying a Flat in Islington: Freehold vs Leasehold Explained

Why This Matters for Islington Buyers

Islington is one of London’s most vibrant boroughs, with Georgian townhouses, Victorian terraces, and modern new-build flats attracting professionals, families, and investors alike. However, before buying a flat in Islington, one of the biggest decisions you’ll face is whether to purchase a freehold or a leasehold property. Each ownership type comes with financial and legal implications that can affect both your lifestyle and long-term investment returns.

What Does Freehold Mean?

A freehold property means you own both the building and the land it sits on indefinitely.

Pros of Freehold in Islington

• Full ownership with no lease restrictions

• No ground rent or service charges

• More control over renovations or extensions

• Typically higher long-term value

Cons of Freehold

• Rare when it comes to flats — more common with entire houses

• Higher upfront cost

• Full responsibility for building maintenance

What Does Leasehold Mean?

A leasehold property means you own the flat for a fixed period of time but not the land. The freeholder (landlord) owns the building and common spaces.

Pros of Leasehold in Islington

• Flats in popular areas like Angel, Highbury, or Barnsbury are usually leasehold, making them easier to find

• Lower purchase price than comparable freeholds

• Building insurance and communal upkeep often handled by the freeholder

Cons of Leasehold

• You’ll pay ground rent, service charges, and maintenance fees

• Restrictions on alterations and subletting

• Lease length matters: as leases shorten (below 80 years), the flat’s value drops and extension costs rise

Freehold vs Leasehold in Islington: Key Differences

Factor	Freehold	Leasehold
Ownership	Building + land	Flat for set lease term
Availability	Rare for flats	Common in Islington flats
Costs	Higher upfront, no ongoing fees	Lower upfront, but ongoing charges
Control	Full control	Restrictions apply
Value	Holds or increases steadily	Dependent on lease length
Example	A whole Georgian townhouse in Barnsbury	A flat in a converted Victorian terrace near Angel