Two ways to protect ALL leaseholders from ruinous building safety remediation costs
The Earl of Lytton addressed the House of Lords on 01 May 2024 giving the government two options to resolve the chaos in the UK flat market caused by the flawed Building Safety Act. It provides full funding from the construction industry to protect all 1.7 million excluded leaseholders, removes the permanently high insurance risk due to the sub standard developer contracts and removes the three tier market causing conveyancers to refuse work on mid and high rise blocks of flats. It offers true consumer protection for blocks of flats with no excluded leaseholders for both historic defects and defects found going forward and it achieves this without the need to go through the courts.
Building Safety Address to the Lords – 01 May 2024
Hansard Speech Text – How the amendments work
Hansard Speech Text – Reply to minister