You can use the search function to find a range of UK Finance material, from consultation responses to thought leadership to blogs, or to find content on a range of topics from Capital Markets & Wholesale to Payments & Innovation.
Responding to the announcement from the Competition and Markets Authority (CMA) today on leasehold selling, Jackie Bennett, Director of Mortgages at UK Finance, said:
The inappropriate use of leasehold and the detrimental impact it can have on homeowners has been an area of concern for lenders. "Leasehold is an appropriate tenure in the right circumstances, for example where properties have shared services or are built on land with specific restrictions but it's crucial it works in the best interest of homebuyers, now and in the future. "It's therefore good to see the CMA taking action where unfair practices have been identified. "This sends a clear signal that the terms of leasehold should be clear and transparent and that leaseholders should be treated fairly.
The inappropriate use of leasehold and the detrimental impact it can have on homeowners has been an area of concern for lenders.
"Leasehold is an appropriate tenure in the right circumstances, for example where properties have shared services or are built on land with specific restrictions but it's crucial it works in the best interest of homebuyers, now and in the future.
"It's therefore good to see the CMA taking action where unfair practices have been identified.
"This sends a clear signal that the terms of leasehold should be clear and transparent and that leaseholders should be treated fairly.
17.04.24
15.04.24
12.04.24
By downloading this document, you understand and agree that any sharing, distribution or republishing of the content, without prior written authorisation from the author or content managers at UK Finance, shall be constituted as a breach of the UK Finance website terms of use.
