Taylor Wimpey plc

In December 2021, Taylor Wimpey plc gave formal commitments to the UK Competition and Markets Authority after the regulator raised consumer-law concerns about leasehold ground-rent clauses. The CMA had taken enforcement action over contract terms that caused ground rents to double every 10 or 15 years. It said such clauses could make homes harder to sell or mortgage and could expose leaseholders to escalating costs. Taylor Wimpey agreed to remove doubling ground-rent terms from affected leases and also remove certain replacement clauses that linked future increases to the Retail Prices Index. The CMA said the original doubling clauses were unfair and that they should be removed entirely. Sources: Competition and Markets Authority https://www.gov.uk/government/news/cma-action-frees-leaseholders-from-costly-contract-terms Competition and Markets Authority https://www.gov.uk/government/news/cma-requires-countryside-and-taylor-wimpey-to-remove-leasehold-terms