The Sunday Times today reports Housing Secretary Michael Gove backing cladding leaseholders putting pressure on investor Norges Bank Investment Management (NBIM) to make UK housebuilders pay up to remedy their own building safety defects.
Norges Bank Investment Management is Norway’s £1 trillion state-owned pension fund which prides itself on ethical investment – no arms, tobacco, offshore fiddling etc
The initiative came from Docklands leaseholder Lucy Brown-Cortes, who also co-authored LKP’s December 2020 proposal to dump forced loans on leaseholders and replace it with sector-wide levy from housebuilders.
Settlers Court right to manage company has had a bruising encounter with the Supreme Court over who manages the shared areas
By Harry Scoffin
Leaseholder empowerment took a battering in the Supreme Court this week after it ruled that the right to manage should only apply to individual blocks and not shared spaces or common parts of a wider estate.
This is a reversal of the legal position established in the Court of Appeal in 2012 in a decision commonly known as “Gala Unity”.
Lord (Stephen) Greenhalgh is the housing minister tasked with seeing through the leasehold reforms, introducing these final consultations with robust criticisms of the leasehold sector (which the sector itself has been denying for the entire 11 years of LKP’s existence).
Government launches a final consultation to gauge views on mixed-use sites and commonhold
Campaign to end the 25% commercial property bar that blocks leaseholders from wresting control from aggressive landlords
Please respond here:
Reforming the leasehold and commonhold systems in England and Wales
This consultation seeks views on reforms to the leasehold and commonhold system following recommendations in the Law Commission’s reports published in July 2020.
Michael Gove making his announcement that leaseholders will not be paying any more for building safety defects. Father of the House Sir Peter Bottomley in the background
It is difficult to exaggerate the cultural shift that has occurred owing to Michael Gove’s dictat that leaseholders – even those in sub-18 metre low-rises – are not to be made to pay a penny for build safety defects.
Instead the money, £4 billion of it, is to come from the developers who built these flawed buildings in a sector-wide distribution of blame by government.