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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.
Taylor Wimpey launched a 130m redress scheme last year to fix the damage of the ground rent scandal it helped create. By July, just 11.2m had gone to helping customers.
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.
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.
Leasehold Knowledge Partnership. Secretariat of the All Party Parliamentary Group on leasehold reform. "Shake me up, Judy!" – in Bleak House, it says:. Stop pontificating about the housing crisis and sort out the ground rent scandal of Taylor Wimpey’s own making Taylor Wimpey to.
Photograph: Christopher Furlong/Getty Images Solicitors who failed to warn of soaring ground rents on leasehold properties face a wave of claims for professional negligence, following Guardian Money.
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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.
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.
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.