Aug 28, 2018
Barclays raises issues with complicated leases at Taylor Wimpey
Taylor Wimpey, the UK's third largest housebuilder, is facing fresh scrutiny over complicated leases sold to customers after a big bank refused to lend against a high-profile London development. A subsidiary company, jointly owned by Taylor Wimpey and L&Q housing association, holds the head lease to the development. After being questioned by the Financial Times, Taylor Wimpey said it would look to amend leases for all current residents of the development to fix the issue. Taylor Wimpey said the developer takes "Any issues which may have the potential to impact the saleability or mortgageability of our customers' homes extremely seriously". L&Q said it did not deal directly with leases for private sale at Chobham Manor but was satisfied that Taylor Wimpey would be amending the clause for all current residents.
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