A leasehold building means you have permission to use the property for a certain term, as agreed with the freeholder who owns the land.

Typically this applies to apartments, where the freeholder will be responsible for maintaining the common parts of the building (e.g. entrance hall, staircase, roof), for which the leaseholder pays ground rent.

Think carefully before securing debt against your home, your home may be repossessed if you do not keep up repayments on your mortgage.