The CMA’s considerations contain homeowners paying escalating ground rents, on event doubling each ten a long time customers getting misled about the value of converting their leasehold into freehold ownership customers not getting told that the assets is leasehold up front, and not getting told what proudly owning a leasehold suggests and customers getting confronted with unreasonable expenses these types of as schedule maintenance of the building’s shared spaces.
CMA main govt Andrea Coscelli claimed: “We have identified worrying proof that persons who invest in leasehold qualities are getting misled and taken gain of.
“Buying a house is one particular of the most important and high-priced investments you can make, and at the time you are dwelling there you want to feel secure and delighted. But for 1000’s of leasehold homeowners, this is not the scenario.
“We’ll be on the lookout thoroughly at the problems we have identified, which contain escalating ground rents and deceptive information and facts, and will be having our own enforcement action directly in the sector soon.”