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Countryside responds to CMA
StockMarketWire.com
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Countryside has responded to a statement by the Competition and Markets Authority, denying claims it has double-charged ground rents.
The regulator had claimed Countryside and Taylor Wimpey had charged ground rents that doubled every 10-15 years. This behaviour breaks consumer protection law.
As a result, the body asked the housebuilders to remove these leasehold terms.
In response, a statement from Countryside read: 'Countryside has sold no properties with doubling ground rent clauses since 2017 and we introduced the Ground Rent Assistance Scheme in 2020 to assist leaseholders whose ground rents doubled more frequently than every 20 years.
'We will continue to engage constructively with the CMA to resolve this complex issue. Alongside these discussions, its resolution will require the engagement of a number of other parties, including certain freehold owners, for a satisfactory solution to be found.'
At 1:25pm: (LON:CSP) Countryside Properties PLC share price was 0p at 412.4p
Story provided by StockMarketWire.com
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