•   
  •   

MoneyCompetition watchdog launches probe into potential leasehold mis-selling

17:05  11 june  2019
17:05  11 june  2019 Source:   msn.com

SpaceX’s Falcon Heavy Launches on 3rd Mission

SpaceX’s Falcon Heavy Launches on 3rd Mission The world’s most powerful operating rocket took flight again early on Tuesday morning. SpaceX’s Falcon Heavy blasted off from Kennedy Space Center in Florida, the third trip to space for the rocket. Its 2018 test launch lofted founder Elon Musk’s Tesla roadster into the solar system, and a second mission in April carried a Saudi communications satellite to orbit. [Video: Watch on YouTube.] This time it’s carrying 24 satellites for the Defense Department and other customers, and Mr. Musk called it SpaceX’s “most difficult launch ever.” A successful mission could lead to additional business from the United States government for Falcon Heavy.

A probe into potential mis - selling in the leasehold market has been launched by the competition watchdog . The Competition and Markets Authority It follows concerns about the fairness, clarity and presentation of some leasehold contract terms, which could lead to people being stung by costly fees

The competition watchdog has finally bowed to pressure from MPs and experts and launched an investigation into possible mis - selling in the leasehold property market. It comes as it emerged that developers had been selling leasehold properties with high fees and spiralling ground rents attached.

Competition watchdog launches probe into potential leasehold mis-selling © Joe Giddens A probe into potential mis-selling in the leasehold market has been launched by the Competition and Markets Authority (Joe Giddens/PA)

A probe into potential mis-selling in the leasehold market has been launched by the competition watchdog.

The Competition and Markets Authority (CMA) will investigate whether people are being treated fairly when buying their home.

It follows concerns about the fairness, clarity and presentation of some leasehold contract terms, which could lead to people being stung by costly fees over a long period or having to abide by onerous conditions.

The CMA is writing to companies across the sector – including developers, lenders and freeholders – requiring information to understand more about how leaseholds are sold and managed, and the terms their contracts contain.

SpaceX launches ashes of 152 people into orbit

SpaceX launches ashes of 152 people into orbit SpaceX has launched its Falcon Heavy rocket in one of its most challenging missions, and is carrying a variety of cargo from 24 satellites to human remains. Lifting off from NASA's Kennedy Space Center in the early hours of Tuesday morning, the mission - dubbed the STP-2 for Space Test Program - saw spots reserved for material from a multitude of companies. These included a deep space atomic clock and rocket fuel test-bed from NASA, and a solar sail from the Planetary Society and Celestis Inc.

Homeowners who were mis - sold leasehold properties may be able to get compensation after the competition watchdog announced it will investigate the issue. There are more than four million leasehold properties in England, of which 100,000 are considered to be "unfair"

The competition watchdog has launched an investigation over the mis - selling of leasehold properties by house-builders, it was reported this And if the CMA finds evidence of mis - selling , developers and freeholders could face legal action for inflicting such terms on leasehold property

It is also calling on home-owners to share their experiences.

Leaseholders, in effect, purchase the right to live in their property for an agreed period.

When a leasehold flat or house is first sold, a lease is granted for a fixed period of time, typically between 99 and 125 years, but sometimes up to 999 years – although people may extend their lease or buy the freehold.

Leases usually impose obligations on the leaseholder, such as the payment of a ground rent.

The Housing, Communities and Local Government Committee has previously heard that ground rents have been increased to the point where properties are difficult to sell on or mortgage.

Space X launches Falcon Heavy rocket in ‘most difficult’ mission yet

Space X launches Falcon Heavy rocket in ‘most difficult’ mission yet Space X last night launched its Falcon Heavy rocket carrying 24 experimental satellites in what boss Elon Musk said was [] The post Space X launches Falcon Heavy rocket in ‘most difficult’ mission yet appeared first on CityAM.

The State Department inspector general fired by President Donald Trump before he could complete investigations into Secretary of State Mike Pompeo and his office was looking into five matters of potential wrongdoing at the State Department

It said the probe had been launched into Amazon Services Europe, Amazon Europe Core, Amazon EU, Amazon Italia Services and Amazon Italia Logistica. The competition watchdog claimed Amazon offered certain benefits to third-party sellers only if they signed up to logistical services offered by the

The CMA said its consumer protection law investigation will focus on two key areas.

One is potential mis-selling and whether people who have bought a leasehold property are given the information they need to fully understand the obligations they are taking on – for example, the requirement to pay ground rent over a certain period of time – or whether they have an accurate understanding of their ability to buy their freehold.

The other area is potential unfair terms and whether people are having to pay excessive fees due to unfair contract terms.

Gallery: Watch out for these 44 added costs when buying a house (Cheapism)

Competition watchdog launches probe into potential leasehold mis-selling

This will include administration, service, and “permission” charges – where home-owners must pay freeholders and managing agents before making home improvements – and ground rents, which in some cases can double every 10 years.

George Lusty, CMA senior director for consumer enforcement, said: “Buying a home is one of the most expensive and important purchases a person can make, so it’s essential they fully understand the contract they are signing – including whether they will have to pay more than they bargained for.”

If the CMA thinks that what a company is doing is misleading, or that its contracts contain unfair clauses, it could take enforcement action to require the company to change how they operate.

MSN are empowering Women In Sport this summer. Find out more about our campaign and the charity fighting to promote the transformational and lifelong rewards of exercise for women and girls in the UK here.

Aussie watchdog readies clampdown on Google, Facebook.
Australia's competition watchdog is poised to call for far-reaching new regulations on Facebook, Google and other tech giants which could have global ramifications for how they make money and choose the content people consume. The Australian Competition and Consumer Commission's recommendations, if confirmed, would be among the strongest yet in a drive to rein in the power of digital behemoths amid a host of worldwide concerns ranging from anti-trust issues to privacy abuse, and their role in spreading disinformation and hateful content.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!