Leasehold firms agree changes after watchdog investigation
Two big players in the leasehold sector have agreed to change the way they operate, following an investigation by the competition watchdog.
"This is a real win for thousands of leaseholders - for too long people have found themselves trapped in homes they can struggle to sell or been faced with unexpectedly high prices to buy their freehold. But leasehold house owners are often charged expensive ground rent as well as fees if they want to make changes to their homes. A leasehold house can also be difficult to sell.
The CMA's George Lusty told the BBC: "If Aviva is now the freeholder for your property and your lease contains a term that doubles the ground rent every ten or 15 years, that doubling won't apply, so you'll just pay the initial ground rent that you signed up to at the beginning and if you've already started to pay an increased fee, they'll refund that.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The great British broadcasting shake-up – all you need to knowGovernment TV changes include possible sale of Channel 4 and new rules governing streaming
Read more »
Sweet Tooth season 2: Tommy Jeppard star teases major change for new seriesSWEET TOOTH dropped on Netflix earlier this month and proved to be an instant success. But what will happen in season two?
Read more »
Meghan Markle’s Pilates trainer: ‘Women need to take it easy after giving birth’A long time Pilates fan, the Duchess was reportedly doing sessions with her new neighbour in LA, singer Adele, last year. But she was also praised for taking a slow route back to fitness after her first child
Read more »
The 5 best moves to master during a TRX workoutPlus, top exercises to try demonstrated by a pro PT (you're welcome)
Read more »
The 5 best moves to master during a TRX workoutPlus, top exercises to try demonstrated by a pro PT (you're welcome)
Read more »
‘An unfolding nightmare’: Trieste’s pioneering mental health system under threat, say campaignersA world renowned treatment for mental illness is under political threat, reports Mark Smith
Read more »