Major developers have committed to paying a collective £5bn to fix buildings with dangerous cladding as well as remediate other fire safety issues, housing secretary Michael Gove has announced.
Some 35 of the UK’s housebuilders have agreed to pay for the remediation of cladding on buildings taller than 11 metres that they developed over the past 30 years.
Gove said: “Today marks a significant step towards protecting innocent leaseholders and ensuring those responsible pay to solve the crisis they helped to cause.
“I welcome the move by many of the largest developers to do the right thing.
“But this is just the beginning. We will do whatever it takes to hold industry to account, and under our new measures there will be nowhere to hide.”
The package will be worth £2bn, while the Building Safety Levy will raise a further £3 billion.
Housebuilders that fail to carry out their responsibilities could be banned from new construction projects, Gove warned.
Indeed, the agreement with housebuilders will be legally enforced, father than merely a ‘promise’.
Meanwhile there will be new powers introduced to enforce on any companies who fail to sign up or to clamp down on any builders that breach the agreement.
Developers that have agreed to the measures are: Avant, Ballymore, Barratt, Bellway, Berkeley, Bewley, Bloor, Cala, Churchill Retirement, CG Fry, Countryside, Crest Nicholson (signalled intent), Croudace, Davidsons, Fairview, Gleeson, Hill Group, Jelson, Keepmoat Homes, Tilia, Lioncourt Homes, London Square, Lovell, Mactaggart & Mickel, McCarthy & Stone, Miller Homes, Morris Homes, Persimmon, Redrow, Rowland Homes, Strata, St Modwen, Taylor Wimpey, Vistry Group, Wainhomes, William Davis.
Landlords have been hit by the cladding announcement, as only those owning up to two rental properties in addition to their own home will benefit from the funding from developers.