<p><span>The Competition and Markets Authority (CMA) has launched enforcement action against Barratt Developments, Countryside, Persimmon and Taylor Wimpey relating to leasehold contracts and “potential mis-selling”.</span><span></span></p> <p><span>The CMA said it was bringing action, having “uncovered troubling evidence of potentially unfair terms concerning ground rents in leasehold contracts and potential mis-selling”. It stated it was concerned that leasehold home owners may have been “unfairly treated and that buyers may have been misled by developers”.</span></p> <p><span> </span><span>The four large housebuilders have been approached for:</span></p> <p><span> </span><span>• Mis-selling – including developers “failing to explain clearly exactly what ground rent is, whether it increases over time, when increases will occur and by how much”; people being misled about the availability of freehold properties and the cost of converting leasehold to freehold ownership, the CMA said.</span></p><p><span>The CMA is also concentrating on unfair sales tactics, such as “unnecessarily short deadlines to complete purchases” to secure a deal, with buyers being rushed into buying properties they may not have purchased, given more time.</span></p> <p><span>• Unfair contract terms on ground rents – Contract terms that see home owners paying “escalating ground rents, which in some cases can double every ten years”. With this increase built into contracts, the CMA …