Ground rent ‘scandal’ shakes Taylor Wimpey

House-building giant Taylor Wimpey has seen full-year profits dented after having to fork out £130m because of a leasehold scandal. Taylor. Leaseholders were forced to stomach ground rents that.

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Taylor Wimpey is just one of many developers who sell new build flats and houses that double ground rent every 10,15 or 20 years. These developers and their new build sites should be named and advised to lower ground rents to a more affordable RPI increase.

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.

Sebastian O’Kelly, of campaign group the Leasehold Knowledge Partnership, says: It is outrageous that after the scandal. Taylor Wimpey, has since offered to allow Catherine and other owners on the.

Cost of renting and buying forcing young people into smaller homes – PropertyWire People could benefit from renting. Firstly, especially for young people without high salary, renting would not bring too much financial burden as compared with real-estate purchasing, I suppose fresh employees who have just stepped into the society may prioritise money saving.

More market reports Asia: Markets four-day rally slows with minor gains across the board Taylor Wimpey apologises and sets aside £130m for homeowners trapped in ground rent scandal Record passenger.

In one high-profile case, housebuilder Taylor Wimpey had. caught up in the scandal. Concerns prompted the Government to launch a consultation, and in December it shocked the industry by saying it.

Taylor Wimpey said that it was working with customers who had bought leasehold houses or flats in 2007 and 2011 in the northwest that were subject to their ground rents doubling every ten years.

Scandal-hit Taylor Wimpey was last night accused of breaking its promise to ride to the rescue of furious customers trapped in homes with soaring ground rents. The builder has faced fierce.

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.

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.