11:01 AM, 15th March 2023, About 7 months ago 2
Thirty-nine of the country’s biggest housebuilders have signed up to the developer remediation contract – which will see the removal of dangerous cladding.
The move will also bring relief for thousands of landlords, leaseholders and tenants as the developers have committed to fixing unsafe buildings they have developed or refurbished.
The signatories represent a substantial proportion of the housing market and include the top 10 biggest housebuilders in the UK.
The signed agreements will raise at least £2 billion for remediation costs.
The Department for Levelling Up, Housing and Communities says this will come as a welcome relief for the thousands of landlords, leaseholders and tenants whose homes are covered by the contract.
Developers will be legally bound to pay to fix their unsafe buildings and eligible developers who fail to sign will not be able to operate freely in the housing market.
Housing secretary Michael Gove said: “I have been clear all along – those that are responsible for this crisis must pay.
“So, I am grateful to those developers who have done the right thing by signing this legally binding contract.
“We will be monitoring their progress on remediation very closely, to ensure this work is completed urgently and safely.”
Mr Gove also warns: “To those developers that have failed to sign the contract without good reason, let me be very clear – we are coming after you.
“If you do not sign, you will not be able to operate freely in the housing market.
“Your investors will see that your business model is broken – only responsible developers are welcome here.”
He added: “But today should not be about developers, or about government.
“Today is about innocent leaseholders.
“I want to put on record my apology to all leaseholders for the years of misery and hardship you have endured. You should never have been ignored, asked to pay and let down.”
Mr Gove says the move is a ‘turning point’ and a crucial step towards resolving this crisis.
The developers must now fix all life-critical fire-safety defects in all English buildings over 11 metres they had a role in developing or refurbishing.
The agreement also requires them to reimburse the taxpayer where government funds have already paid for remediation, with that money being used to make other buildings safe faster.
The government has also published a list of developers who have signed the agreement – and also those who have not.
Next ArticleTenant won't move after section 21?