Leaseholders and Cladding

Baroness Finlay of Llandaff Excerpts

Wednesday 25th November 2020 Lords Chamber

[Lord Greenhalgh (Con)]

My Lords, with the greatest respect, the bill for remediation of historic cladding defects cannot simply be passed to the taxpayer. We expect developers, investors and building owners who have the means to cover remediation costs themselves to do so without passing on costs to leaseholders.

[Baroness Finlay of Llandaff (CB) [V]]

How many freeholders have been asked to pay for this remedial work on the buildings they commissioned on their land, and how many of those who built these dangerous dwellings, who all gain profit from the sale of leasehold properties? What legislation do the Government plan to bring forward to move from leasehold to co-ownership for multioccupancy buildings?

[Lord Greenhalgh (Con)]

My Lords, in addition to other ministerial responsibilities, I am now responsible for looking at leasehold reform. This is not the place to opine on that, but just over 50% of private sector developers and freeholders with aluminium composite material in high-rises funded it and did not pass on the costs to leaseholders—a significant proportion stepped up to the plate and did the right thing.