Andrew Selous
Main Page: Andrew Selous (Conservative - South West Bedfordshire)
Mr Betts
We did consider that, and we said that although such voluntary agreements might be a step forward, they were not sufficient and they were not as good as our proposals to restrict leases on existing properties to 0.1% of the value, or £250. Legislation would overturn the current arrangement, and provide a better one for leaseholders.
Andrew Selous (South West Bedfordshire) (Con)
The scandal of new houses being sold on leases, often to first-time buyers, is present in my constituency in Dunstable and Leighton Buzzard, and involves builders such as Galliford Try, which trades as Linden Homes, Taylor Woodrow and Persimmon. I am concerned about how we get speedy and affordable redress for people caught in that situation, including those Taylor Woodrow victims who are not the original purchasers and to whom Taylor Woodrow is offering nothing. The report states that the Law Commission is not due to provide its final report until later in 2019, and the Committee recommends implementation of these measures within 12 months. That cannot come a day too soon. This scandal should never have been allowed to happen, and I say to my good friend the Minister that we need urgent action please.
Mr Betts
The word “scandal” is absolutely right to describe the way some of these developers have behaved. Hopefully action will follow quickly from the Law Commission’s report, and the Committee will keep an eye on that and press for action, as I am sure will other hon. Members. We must keep reminding ourselves that the companies who have done this are hardly hard up. In the last financial year, Taylor Woodrow made profits of £800 million and Persimmon of £1 billion. Those companies are not relying on that money to keep themselves afloat.