By UK do you perhaps mean "England"? Scotland's separate legal system abolished feudal tenure some time ago, I can't speak for the other nations within the UK.
Leasehold is something that has been in the news lately. Leasehold is a legal apparatus that makes some types of property management work, somewhat akin to stratifying a property in American and Canadian terms.
Freeholders owns the underlying land, with the leaseholder owning a right of access of sorts. Freeholders generally charge the leaseholders service charges, but like anything, this can and has been abused. Like the current controversy with Leaseholds being sold to unsuspecting home buyers.