Propertymark CEO backs Building Safety Scheme
Property Mark CEO backs the Earl of Lytton’s Building Safety Remediation Scheme, in a letter to Baroness Scott on 07 August 2023.
Read the full letter below:
British Safety Council Article
The Earl of Lytton explains to the British Safety Council why his amendment is urgently needed:
1. Protect the 1.7 million excluded leaseholders with remediation costs funded by the construction industry.
2. Remove the 3 tiers of ‘protection’ status (needlessly introduced by the Building Safety Act) blighting the UK flat market and causing conveyancers to reject this work due to lack of insurance cover.
3. Ensure the construction industry is the backstop for remediation costs, as many of the landlords are thinly capitalised so making them the backstop could result in many qualifying leaseholders being left in legal limbo due to freeholder insolvency.
4. Ensure that the rotten culture in construction ends with permanent joint and several liability on the developer or lead contractor or their parent companies.
Read the full article below:
