Freehold tram stop serves the Cowhill and Block Lane areas of Chadderton and the adjacent Freehold area of Werneth, Oldham from which the station takes its name. The names Cowhill and Block Lane were also considered as names for the stop prior to opening, the local council finally opting for the name Freehold. The stop is one of the newly built stops on what was the Oldham Loop Line.
Freehold station is served by service 159 which stops outside the station on Block Lane. The 159 is operated by Manchester Community Transport and heads northbound to Chadderton town centre, continuing to Oldham, and runs southbound to Hollinwood, continuing to Middleton via Woodhouses, Failsworth and New Moston.