Watchdog Targets Property Giants For Potential Misselling
Law360, London (September 4, 2020, 2:31 PM BST) -- The Competition and Markets Authority began enforcement action against four leading housing developers on Friday after it uncovered "troubling evidence" that people had potentially been wrongly sold properties and possibly given unfair contract conditions.
The CMA will focus on some of the practices of Barratt Developments, Countryside Properties, Persimmon Homes and Taylor Wimpey. The regulator is concerned that home-owners had potentially been misled about the cost of changing their leasehold to freehold ownership.
A leaseholder owns a property on a lease, which is typically 99 years; a freeholder owns the property outright.
"When buying their home … some people were told...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!