Housebuilder Taylor Wimpey sets aside 130m for leasehold ‘scandal’ The owners of homes trapped in their properties by costly ground rent contracts are to get help from builder Taylor Wimpey. By.
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.
It said: "We reviewed the mechanism for ground rent increases in 2011 and decided that the RPI was a more appropriate measure going forward. All Taylor Wimpey homes on developments commenced after 2011 have been sold with ground rent increases linked to the RPI. All purchasers have independent legal advice.
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Just this week The Sun reported how thousands of families are trapped in homes they can’t sell because of doubling ground rent clauses. The Government has been consulting on a shake-up to the.
Taylor Wimpey homeowners have reacted with scepticism to the firm’s promise to help leaseholders faced with spiraling ground rents and sky-high buyout costs. Last week, the housebuilder apologised.
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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.
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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.
Taylor Wimpey’s doubling of leasehold ground rents has drawn attention to what could be a wider industry practice that has drawn increasing criticism from MPs and campaign groups as well as anguished homeowners Amid national newspaper reports of a leasehold homes "scandal", housebuilder Taylor.