14th April 2022
Major developers accounting for half of new homes have agreed to commit a minimum of £2 billion to fix all unsafe tall buildings they played a part in developing.
Under the new agreement, which will become legally enforceable, more than 35 of the UK’s biggest homebuilders have pledged to fix all buildings in England of 11 metres and above that they have played a role in developing in the last 30 years.
The developers have promised to act as quickly as possible to fix buildings and regularly report to leaseholders and government on their progress.
Furthermore, under a government scheme, funded through an extension to the Building Safety Levy, the industry will pay to fix buildings where those responsible cannot be identified or forced to in law.
This is expected to raise up to an additional estimated £ 3 billion over ten years from developers and ensure no leaseholder in medium-rise buildings faces crippling bills, even when their developer cannot be traced.
Agreement with major developers to fund building safety repairs – press release
