Britain's no. 3 homebuilder Taylor Wimpey will drop contract terms that lock leaseholders into rents that double every 10 years, ending an over year-long probe into the firm by the UK competition watchdog, the regulator said on Wednesday.
In September, Countryside agreed to drop similar terms, while in June, Persimmon and a fund managed by Aviva also closed the case with the regulator.CMA said ground rents of the affected Taylor Wimpey leaseholders will no longer increase and will remain at the amount charged when they first bought their home.
In a separate statement, Taylor Wimpey said the cost of dropping the clause falls within the provisions it earmarked in 2017 to cover the same. The company also said its agreement with the regulator did not imply infringement of UK consumer law. The CMA, meanwhile, said the probe against Britain's largest homebuilder Barratt over possible mis-selling of leasehold homes was ongoing.Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Devika SyamnathSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Selena Gomez Opens Up About How Her Friend Taylor Swift Influenced Her Early Pop-Star FashionSelena and Taylor have been close for over 13 years.
Les mer »
Lawrence Taylor Pleads Not Guilty To Felony Charges In Sex Offender CaseLawrence Taylor has pleaded not guilty to two felony charges, TMZ Sports has learned.
Les mer »
Taylor Swift Left So Many Easter Eggs in the ‘All Too Well’ Short FilmTaylor Swift Left So Many Easter Eggs In The ‘All Too Well’ Short Film
Les mer »
Taylor Swift Shared Intimate Photos From Her 32nd Birthday Party“Don’t worry we tested everyone!”
Les mer »
Selena Gomez Says She's ‘Kinda Missin’ Her Bestie Taylor Swift: Relive Their 13+ Year FriendshipSelena Gomez and Taylor Swift's Complete 13+ Year Friendship Timeline
Les mer »
Marjorie Taylor Greene's Polio Vaccine Comment Gets ScorchedThe far-right House member tried to make a pithy comment about Sen. Cory Booker's breakthrough COVID case.
Les mer »