CMA believes contract terms which double ground rent every 10 or 15 years break consumer protection law
The Competition and Markets Authority (CMA) has asked Countryside and Taylor Wimpey to remove from existing contracts “unfair” terms, which double the cost of ground rent every 10 or 15 years. It has also requested that these terms be ommitted from future contracts.
The CMA believes the terms break consumer protection law, as they may lead to individuals struggling to sell or mortgage their homes and finding themselves “trapped”. Andrea Coscelli, CMA Chief Executive, described this as “unacceptable.”
The CMA is concerned with the application of the Unfair Terms in Consumer Contracts Regulations 1999 (UTCCRs) and Part 2 of the Consumer Rights Act 2015 (CRA), in the context of ...