RE: CMA Enforcement5 Sep 2020 13:31
The whole leasehold/ground rent thing seems a little muddled, and I can see that issues eventually arise for some purchasers, arising from their understanding of implications which may or may not have been properly explained at stages of the process, whether they bought direct from Taylor Wimpey or through estate agents acting for Taylor Wimpey. On my reading, any lease granted by Taylor Wimpey has, as part of their business model, been sold on to third parties. So there is no current income from those leases for Taylor Wimpey. I read on another board that Persimmon says for them the sale of leasehold houses is historic, and they see no need to make any financial provision following the CMA announcement. I do not know if that is Taylor Wimpeys position.
It seems government over recent years were intending to legislate on matters leasehold, but as yet have not done so. Perhaps it is time they did.