Ground rent ‘scandal’ shakes Taylor Wimpey

Taylor Wimpey: most buyers in ground rent scandal have agreed. – The "substantial majority" of Taylor Wimpey home buyers caught in the ground rents scandal will be able to switch to less onerous leasehold contracts, the housebuilder said after it set aside 130m to convert the controversial leases. In an upbeat trading statement that contrasted with a more pessimistic report by rival Persimmon last week, Taylor [.]

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Leasehold scandal: the banks that won't lend on homes with. – 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.

CML planning action on ground rent scandal – Latest News – 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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Taylor Wimpey homes in Canterbury’s Royal Parade development come with charges of £1,000 a year – Developer Taylor Wimpey says the costs are for upkeep of green spaces. who says the phenomenon amounts to a new "cash-cow" for private developers in the wake of the ground rents scandal. The bill,

Ground rents: The calm before the storm? – DAC Beachcroft – 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.

The problem of doubling ground rent in Taylor Wimpey new homes – The problem of doubling ground rent in Taylor Wimpey new homes. Posted on 2nd May 2017. It was widely reported last week that Taylor Wimpey has set aside 130million to correct the rent review terms of the good rent in some of their new build leasehold properties.. Ground rent is normally an annual sum paid by a leaseholder to their freeholder.

Taylor Wimpey – Wikipedia – Taylor Wimpey has been accused of selling "recently-built" houses and apartments as leasehold that would traditionally have been freehold, with clauses that allow the ground rent to rise dramatically in later years. This makes the houses unsaleable.

Taylor Wimpey boss scraps plan to buy cut-price flat for himself – Taylor Wimpey was also caught up in a scandal dubbed the “PPI of the housebuilding industry” in 2017 after it had to set aside £130 million to address the problem of homebuyers who bought under.

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Update on the leasehold review | 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.