developers revealed they're changing cruel leasehold clauses.The punishing leasehold terms often mean buyers are unable to sell their homes, the Mirror reports.
Persimmon Homes and Aviva have both agreed to reform their clauses. This will apply to new and existing home owners. Aviva invested in freeholds from Developers.
Now the Competition and Markets Authority (CMA) said Aviva have agreed to remove ground rent terms. The terms had previously been blasted for being unfair.
The change would mean Aviva would repay homeowners who were hit with rents doubling in cost. Meanwhile housebuilder Persimmon agreed to offer leasehold homeowners the chance to buy the freehold of their property.
Read more on dailyrecord.co.uk
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