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Taylor Wimpey drops costly leasehold terms after investigation
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theguardian.comThousands of people who bought leasehold homes from the housebuilder Taylor Wimpey will be liberated from terms where their ground rent charges doubled every 10 years, after a long-running investigation by the UK competition watchdog.
The Competition and Markets Authority (CMA) has been looking into the practice by Taylor Wimpey and other property developers. The contractual cost increases have left some house owners struggling to sell or mortgage their homes, while their rights to their property can also be at risk if they fall behind on ground rent payments.
Taylor Wimpey has voluntarily given formal commitments to the CMA that it will remove terms from leasehold contracts that cause ground rents to double in price.
The company has also
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