Ground rent ‘scandal’ shakes Taylor Wimpey

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.

How the ground rents worked. Between 2007 and 2011, taylor wimpey created and sold a number of long leaseholds to homebuyers who paid a lump sum for a home and agreed to pay an annual ground rent fee. Sunday Times reports Taylor Wimpey ground rent scandal, as executives meet leaseholders By admin on Nov 28, 2016 09:22 am The Taylor Wimpey ground.

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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.

 · In reply to mattlee: Digression – something to watch out for. There’s been some press recently where a while back major developers (eg Bovis, Taylor Woodrow) set up ground rent or service charges that doubles every ten years. 10-20 years later people are.

Last week, Jenrick, 37, revealed plans for a shake-up of shared ownership equity. title for free and said it would.

How the ground rents worked. Between 2007 and 2011, taylor wimpey created and sold a number of long leaseholds to homebuyers who paid a lump sum for a home and agreed to pay an annual ground rent fee. Sunday Times reports Taylor Wimpey ground rent scandal, as executives meet leaseholders By admin on Nov 28, 2016 09:22 am The Taylor Wimpey ground.

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The Taylor Wimpey ground rent scandal involves thousands of purchasers of the company’s new build properties who have acquired a 10 year doubling lease. These leases incorporate a ground rent clause which rises year on year to the point where the property is likely to become un-mortgageable and difficult to sell.

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.

Leasehold ground rent scandals are rising. If your solicitor didn’t advise you about ground rent increases, you may have a claim for damages.. The scandal surrounding leasehold ground rents. 03-03-2017.. Taylor Wimpey have been identified as a builder adopting this practice. For example.