Ground rent ‘scandal’ shakes Taylor Wimpey

Ground rent ‘scandal’ shakes Taylor Wimpey

Update on the leasehold review. taylor wimpey is introducing a scheme to help customers who purchased directly from us and who still own properties which have a lease with a ten year doubling ground rent clause. For further information on the Taylor Wimpey Ground Rent Review Assistance Scheme.

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Taylor wimpey sees first-half profits drop after 130mln charge for ground rent scandal, but to pay another special dividend taylor wimpey sees first-half pr. While in the past, homes on new-build estates were sold as freehold, Persimmon, Taylor Wimpey and Bellway now regularly sell estate houses as leasehold.

Leasehold ground rent scandals are rising. If your solicitor didn’t advise you about ground rent increases, you may have a claim for damages.. The scandal surrounding leasehold ground rents. 03-03-2017.. Taylor Wimpey have been identified as a builder adopting this practice. For example.

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The Taylor Wimpey ground rent scandal involves thousands of purchasers of the company’s new build properties who have acquired a 10 year doubling lease. These leases incorporate a ground rent clause which rises year on year to the point where the property is likely to become un-mortgageable and difficult to sell.

Taylor Wimpey has apologised to leaseholders and set aside 130 million to sort out a problem with the terms of its leases for new-build houses which can see ground rents soar over the long term.

The Taylor Wimpey ground rent scandal featured in the Sunday Times yesterday, as it emerges that executives are being sent out to visit the complaining leaseholders. The article was in the form of a reader’s letter from a 130,000 leasehold house owner in Bolton facing doubling ground rents from an initial 250.

Ground rents: The calm before the storm? Published 2 November 2017. This is a topic which has received a huge amount of attention over the last 12 months, culminating in the government’s consultation paper on leasehold reform launched in July 2017.

Annual ground rents on new leasehold properties will be capped at £10 under UK government reform proposals in response to a scandal over escalating charges. buying homes from developers such as.

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This is because they don’t own the land their house is built on and as a result they now face paying spiralling ground rents to the freehold. “nothing short of a national scandal”. Housebuilding.

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