Escalating Ground Rent

The Competition and Markets Authority (CMA) announced on Friday afternoon that their investigation into the escalating ground rent saga had reached some “very disturbing” conclusions, and that housebuilders had been unfairly taking advantage of their bargaining power in property transactions, to the detriment of residential purchasers. 

This is likely to be a very positive development for conveyancing professionals and their PI insurers, who have so far borne the brunt of consumer complaints about the situations they have found themselves in.