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CMA Launches Leasehold Investigation
- The Competition and Markets Authority (CMA) has initiated an investigation into the leasehold housing market to determine if consumers are being treated fairly during the home-buying process, amid concerns about unfair leasehold terms.
Concerns Over Leasehold Mis-Selling
- The CMA is focusing on whether buyers of leasehold properties have been fully informed about the long-term costs, such as ground rents, and their ability to purchase the freehold, potentially uncovering mis-selling practices.
Examination of Unfair Leasehold Terms
- The investigation will also address the issue of excessive fees that homeowners must pay, including administration, service, and permission charges. These fees could be seen as unfair, especially when ground rents double over time.
Impact of Leasehold on Homeowners
- The CMA is keen to understand how these leasehold practices affect homeowners, especially when it comes to long-term financial burdens and challenges in selling properties due to restrictive lease terms.
Action Against Misleading Practices
- If the CMA finds evidence of misleading practices or unfair contract terms, it could take action to change the way leasehold properties are sold and managed, potentially improving fairness for future buyers.
Share Your Experience
The CMA is encouraging homeowners to share their experiences with the leasehold market, providing an opportunity for people to report any issues they’ve encountered before the deadline of July 12.
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Mary-Anne Bowring FTPI FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
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Kate Robinson MTPI MD Blocks/FM Management (London Region)
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Lee Harle Partner Ringley Law
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Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
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Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
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Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
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Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.
