Flats in the UK: a quick guide

What a UK flat is, the three main tenure types, and how Offrly values one.

What a flat is

A flat is a self-contained residential unit within a larger building. Flats are a significant share of UK housing, especially in urban areas, and the first step for many first-time buyers.

Tenure types

• Leasehold. The most common tenure for UK flats. The leaseholder owns the right to occupy for the remaining lease term. A separate freeholder owns the building and land.
• Share of freehold. The leaseholders collectively own a share of the freehold, usually through a management company.
• Commonhold. A separate framework for collectively-owned blocks. Less common in the UK.

Things people commonly check

• Remaining lease length, for leasehold flats.
• Ground rent and the review clauses in the lease.
• Service charges and reserve funds. It is common to ask for the last few years of service-charge accounts.
• Major works planned for the building.
• Cladding and fire-safety paperwork for taller buildings.
• Management-agent quality and reputation.

These factors can meaningfully affect the value and ongoing running costs of a flat.

How Offrly values a flat

Offrly's valuation takes tenure as an input (freehold, share of freehold, or leasehold) and uses AI to read listing photos for internal condition. Leasehold flats are modelled separately from freeholds. Short leases can skew results, so the remaining lease length is worth checking manually on any specific listing.

Not a regulated valuation

Offrly produces an indicative market figure, not a regulated valuation. For mortgage, insurance or legal purposes, use a RICS-qualified surveyor.