Property News · May 13, 2017

Taylor Wimpey compensation offer is PR con, claim victims of leasehold scandal


Some homeowners believe they will still be left in the clutches of ground rent companies and have to pay excessive chargesTaylor Wimpey last month offered £130m to buyers trapped in new-build homes with spiralling ground rent contracts. It was a move initially greeted with glee by victims of the leasehold scandal. But as details have emerged, some householders say they will still be left paying “frankly obscene” charges.Jo Darbyshire bought her four-bed home in Bolton in 2010 from Taylor Wimpey without realising the full implications of the 999-year leasehold contract, which allowed the freeholder to double the £295 ground rent every 10 years. Only when a neighbour’s house sale fell through – because a mortgage company rejected the ground rent clause – did Darbyshire discover her home had been rendered potentially unsaleable. Continue reading…

Source : theguardian.com
Read more…Taylor Wimpey compensation offer is PR con, claim victims of leasehold scandal

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