Ex-council properties come in various types, including:
Leasehold: The most common type, where the buyer owns the flat but not the land it stands on. Leaseholders pay ground rent and service charges, and the property is subject to the terms of the lease.
Shared ownership: Some ex-council properties are available under shared ownership schemes, allowing buyers to purchase a share of the property (usually between 25% and 75%) and pay rent on the remaining share. Over time, buyers can purchase additional shares, potentially owning the property outright.
Freehold: Although less common, some ex-council houses may be sold as freehold, where the buyer owns both the property and the land it stands on. This ownership type provides more control and fewer restrictions compared to leaseholds.