Chair-elect welcomes CMA announcement regarding leasehold mis-selling and unfair contracts
28 February 2020
Chair elect's comment
Chair-elect of the Housing, Communities and Local Government Committee, Clive Betts MP, said:
"I am delighted that the CMA's investigation, which was prompted by the HCLG Committee's report into Leasehold Reform, has so strongly sought to protect the interests of consumers. I hope that the planned enforcement action will provide a route to justice for the many homeowners who have been treated so poorly by too many developers and freeholders.
The CMA's findings reinforce the need for urgent reform in the leasehold system and call into question the suitability of this form of property management. Too often leasehold has been used simply to take more and more money for homebuyers. As the Government provides more detail on their planned reforms, we will watch closely to ensure that they will be protecting the interests of those already sold leasehold properties, as well as creating a system fit for purpose going forward. We look forward to receiving the promised draft bill and want to ensure ultimately that the ensuing legislation addresses the concerns the HCLG Committee identified."
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