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  4. U.K. Competition Authority Closes Probe Into Barratt Leasehold Contracts
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U.K. Competition Authority Closes Probe Into Barratt Leasehold Contracts

By Scott Kanowsky  AiVIF.com -- The U.K.'s competition watchdog has closed its investigation into potential mis-selling of leasehold homes by housebuilder Barratt Developments...
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U.K. Competition Authority Closes Probe Into Barratt Leasehold Contracts © Reuters

By Scott Kanowsky 

AiVIF.com -- The U.K.'s competition watchdog has closed its investigation into potential mis-selling of leasehold homes by housebuilder Barratt Developments PLC (LON:BDEV).

In a statement, the U.K. Competition and Markets Authority said it found "insufficient" evidence to support a legal case for Barratt leaseholders against the company, adding that this conclusion was unlikely to change even with further probing.

"[C]onsequently continuing with the case would not be a good use of resources. Barratt’s sales practices have changed, and they no longer sell leasehold houses," the CMA said.

The announcement comes as the CMA is looking into how homebuilders like Barratt sell properties to leaseholders - or, homeowners that have bought the right to live in a house for a fixed time period.

Developers have included clauses in contracts that would double the ground rents leaseholders have to pay every ten years. Groups representing leaseholders have claimed that this practice has made it more difficult for them to either sell or mortgage their homes.

In a statement, Barratt said it was "pleased to note" the CMA's conclusion. Shares in the company were trading lower by 0.60% on Tuesday.

Elsewhere, the CMA said it was "positively engaging" with firms who purchased freeholds from Barratt rival Taylor Wimpey (LON:TW) in order to secure commitments from them to remove doubling ground rent clauses from their lease agreements.

In December, Taylor Wimpey agreed to do away with the clause, promising to instead charge a flat fee.

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31-03-2024 10:19:50 (UTC+7)

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    EUR/USD 1.0793 Sell  
    GBP/USD 1.2624 Sell  
    USD/JPY 151.38 ↑ Buy  
    AUD/USD 0.6522 Sell  
    USD/CAD 1.3543 Buy  
    EUR/JPY 163.37 ↑ Sell  
    EUR/CHF 0.9738 ↑ Buy  
    Gold 2,254.80 Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
    Natural Gas 1.752 ↑ Sell  
    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
    Siemens AG 176.96 ↑ Buy  
    Deutsche Bank AG 14.582 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(7,910/ 8,080) # 1,364
SJC HCM7,830/ 8,080
(0/ 0) # 1,364
SJC Hanoi7,830/ 8,082
(0/ 0) # 1,366
SJC Danang7,830/ 8,082
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SJC Nhatrang7,830/ 8,082
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SJC Cantho7,830/ 8,082
(0/ 0) # 1,366
Cập nhật 31-03-2024 10:19:52
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ↀ Giá vàng thế giới
$2,232.75 -1.61 -0.07%
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Sản phẩm Vùng 1 Vùng 2
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RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
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Brent $86.82 +5.18 0.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
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EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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