REG - Competition and Mkts - Leasehold investigation update

Taylor WimpeyAnnouncement

16/08/2022 08:15

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RNS Number : 0869W  Competition and Markets Authority  16 August 2022

Leasehold investigation update

 

16 August 2022: The Competition and Markets Authority (CMA) is positively
engaging with firms who purchased freeholds from Taylor Wimpey in order to
secure formal commitments from those freeholders to remove doubling clauses
from their leases, and any doubling terms that were converted to be based on
the Retail Price Index (RPI). This follows Taylor Wimpey's commitment to the
CMA to help get such clauses removed at no cost to leaseholders. The CMA will
provide an update in due course.

 

Regarding its investigation into alleged mis-selling by Barratt Homes, the CMA
has now closed its case. Following careful scrutiny of the evidence gathered,
the CMA concluded that it was insufficient to support a clear legal case for
the CMA to secure collective redress for Barratt leaseholders under its
consumer law powers. This was unlikely to change with further investigation
and consequently continuing with the case would not be a good use of
resources. Barratt's sales practices have changed, and they no longer sell
leasehold houses.

 

For more information on the CMA's investigation, visit the leasehold case
page (https://www.gov.uk/cma-cases/leasehold) .

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