Taylor Wimpey is just one of many developers who sell new build flats and houses that double ground rent every 10,15 or 20 years. These developers and their new build sites should be named and advised to lower ground rents to a more affordable RPI increase.
The Council of Mortgage Lenders (CML) is planning action on the ground rent scandal which MPs have called ‘the PPI of the building industry.’ The issue involves ground rent clauses on the sale of new houses which would double the rent every 10 years.
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An investigation has laid bare the scandal of doubling ground rents affecting hundreds of thousands of people who own leasehold homes. Some of Britain’s largest developers, most notably Taylor.
"We took the matter extremely seriously when it was brought to our attention around autumn 2016" yet Taylor Wimpey were knowingly selling leases with onerous ground rents as far back as 2007. #.
Related: New-build ground rent scandal could spark legal battles. An investigation by the Guardian last year in collaboration with campaign group leasehold Knowledge Partnership uncovered how buyers of Taylor Wimpey homes, predominantly in the north-west, found them to be almost unsaleable because of the doubling ground rents.
For sale: Fircrest couple’s backyard Fircrest couple discovers they don’t own their backyard. owners of a two-story home in Fircrest with a landscaped backyard abutting south 19th street.. shows the house parcel for sale, but.
Taylor Wimpey earmarks 130m to help leaseholders hit by rent review clauses – Taylor Wimpey said it has entered into negotiations with the owners of the freeholds who hold the power to double ground rent in order to alter the terms. the situation "nothing short of a national. taylor wimpey ground rent Scandal: Specialist Negligence.
Taylor Wimpey’s snake oil ground rent review scheme makes toxic leases even worse: in my case, 25m worse! Taylor Wimpey more greedy than the ground rent ‘Mr Smallweeds’ (and so are other plc housebuilders) taylor Wimpey ground rent explanation ‘not true’, BBC is told Marie Rimmer MP: how can a modest Taylor Wimpey leasehold house in St Helens pay out 185,850 to freehold investors.
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.