Countryside to pay out £5m to settle ‘leasehold’ probe

Countryside - Spencer Park - CPL-SPH-view 3 (003)

Housebuilder agrees deal with competition regulator to help affected customers

Housebuilder Countryside has made a £5m writedown after coming to a deal with the competition regulator requiring it to take further action over leasehold properties it sold with “doubling” ground rent fees.

Under the terms of the deal with the Competition and Markets Authority, Countryside has agreed to strike out any remaining onerous leasehold contracts where it can, replacing them with ones where ground rent charges remain fixed.

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