Taylor Wimpey then reimburses homeowners for these legal costs, but only up to an undisclosed, capped amount. This is Money spoke with a solicitor who has represented leaseholders affected by the scandal, who said that developers agreeing to vary unreasonable ground rent usually contribute around 750 towards the cost.
An investigation has laid bare the scandal of doubling ground rents affecting hundreds of thousands of people who own leasehold homes. Some of Britain’s largest developers, most notably Taylor.
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Solicitors Could Face 578 Million in Claims for Professional Negligence Following Leasehold Ground Rent Scandal There has been much media and parliamentary scrutiny recently of Taylor Wimpey’s policy to include 10-year doubling ground rents on new build leasehold properties.
The housebuilder Taylor Wimpey has taken a 24 per cent hit to first-half profits after setting aside 130m to help homebuyers affected by a leasehold scandal. Pre-tax profits for the year to July.
Taylor Wimpey’s snake oil ground rent review scheme makes toxic leases even worse: in my case, 25m worse! Taylor Wimpey more greedy than the ground rent ‘Mr Smallweeds’ (and so are other plc housebuilders) taylor wimpey ground rent explanation ‘not true’, BBC is told Marie Rimmer MP: how can a modest Taylor Wimpey leasehold house in St Helens pay out 185,850 to freehold investors.
The UK Government is cracking down on the “feudal” practice of leaseholds for almost all newbuild houses. rising rents.Homebuilders such as Taylor Wimpey have been criticised for inserting clauses.
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Related: New-build ground rent scandal could spark legal battles. An investigation by the Guardian last year in collaboration with campaign group leasehold knowledge Partnership uncovered how buyers of Taylor Wimpey homes, predominantly in the north-west, found them to be almost unsaleable because of the doubling ground rents.
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Telegraph Money understands the john lewis pension fund has also invested in ground rents, including ones with doubling terms sold by Taylor Wimpey. The housebuilder. been in such stark relief as.
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Taylor Wimpey’s doubling of leasehold ground rents has drawn attention to what could be a wider industry practice that has drawn increasing criticism from MPs and campaign groups as well as anguished homeowners Amid national newspaper reports of a leasehold homes "scandal", housebuilder Taylor.