The UK markets authority has closed a three-year investigation into alleged mis-selling of leasehold properties by housebuilder Barratt Developments.
The Competition and Markets Authority said the decision to close the case followed “careful scrutiny” of available evidence.
It concluded that there was insufficient evidence to support a clear legal case against the homebuilder.
The CMA continues to investigate freeholds sold by fellow housebuilder Taylor Wimpey and said it would provide an update in due course.
Its investigations examined clauses that required leaseholders to pay elevator charges for ground rents.
Barratt has changed the way it sells leaseholds and no longer sells leasehold houses, CMA said.
The regulator said it was still engaging with firms that bought freeholds from Taylor Wimpey “in order to secure formal commitments from those freeholders to remove doubling clauses from their leases”.
It will look specifically into whether any doubling terms were converted to the Retail Price Index.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK’s CMA Investigates Education Software Company for Market Abuse
May 14, 2024 by
CPI
Schumer Urges FTC Caution on Chevron’s $53B Hess Deal Over Gas Price Fears
May 14, 2024 by
CPI
Amazon Urges US Judge to Block FTC Probe into Data Preservation
May 14, 2024 by
CPI
Colorado Makes History: First State to Enact Comprehensive AI Legislation
May 14, 2024 by
CPI
Class Action Settlement Reached in Cheerleading Monopoly
May 14, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI