Taylor Wimpey, one of the UK’s biggest housebuilders, has set aside £130m and apologised to home buyers in a dispute over sharply rising fees.
It is the first major builder to apologise after criticism for leaving customers with onerous leasehold deals.
The contracts meant that ground rents, which are paid to owners of the property, doubled every 10 years.
MPs have described the situation as a “national scandal” and the “PPI of the house building industry”.
Other builders have also been criticised for drawing up similar contracts, but are yet to set aside compensation.
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