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UK's CMA asks Taylor Wimpey, Countryside to remove some rental contract terms

March 19 (Reuters) - Britain’s competition watchdog said on Friday it had directed homebuilders Taylor Wimpey and Countryside Properties to remove certain contract terms that mean leaseholders have to pay ground rents that double every 10 or 15 years.

“As this increase is built into contracts, it means people can struggle to sell or mortgage their homes, and so find themselves trapped,” the Competition and Markets Authority said in a statement, adding that these terms could also affect the property rights of customers. (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu)

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