Friday 19 March 2021 7:46 am

CMA orders Taylor Wimpey and Countryside to remove ground rents in rental contracts

The Competition and Markets Authority said this morning it has instructed homebuilders Taylor Wimpey and Countryside Properties to remove certain contract terms that require leaseholders to pay ground rents which double every decade.

The CMA said these terms could affect the property rights of the firms’ customers.

Moreover, “as this increase is built into contracts, it means people can struggle to sell or mortgage their homes, and so find themselves trapped,” the watchdog clarified in a statement.