persimmon
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Latest property news
Big developers to complete fire safety works on Welsh high rises
Building safety programme will make residents feel ‘safe and secure in their homes’ and is part of Welsh Government’s cooperation agreement with Plaid Cymru.
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Latest property news
CLADDING: Builders to spend £2bn remediating towers they developed
Government has extracted legally-enforceable pledges from 35 leading firms to pay for remediation at developments they were involved in.
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Latest property news
LATEST: Taylor Wimpey agrees to free leaseholders from ground rent nightmare
Major house builder is latest to help its former customers as the CMA investigation into unfair leasehold practices and miss-selling rumbles on.
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Latest property news
BREAKING: Persimmon and Aviva promise to end unfair leasehold terms
Housebuilder and freeholder undertake to change their ways with others expected to follow suit soon as CMA increases legal pressure.
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Latest property news
Fire safety scandal threatens to engulf house building industry
Report into Persimmon's failure to install cavity wall fire barriers in some of its homes likely to expose construction failings across industry
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Latest property news
Who are the most successful house builders in the UK?
Research is published showing best house builders by number, growth in new homes sold and price achieved.
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Latest property news
Persimmon faces calls to transfer all its homes sold via leasehold to freehold
FTSE 100 national house builder Persimmon is under pressure to give all of those it sold leasehold homes freehold ownership for free. Campaigners have called for the move after Persimmon reached an out-of-court settlement with leaseholders at one of its sites in Wales. The company’s St Edeyrn’s Village site in Cardiff had been under investigation by local Trading Standards after home owners at the site complained they were unaware that they had bought the homes via leasehold tenure. Prosecution After Cardiff City Council said it would consider a planned prosecution over mis-selling by Persimmon at the site, the company has written to the leaseholders offering to give all leaseholders on the estate the freehold title without charge and to reimburse any ground rent paid. In a letter sent to buyers at the site seen by the Daily Mail, Martin Smith, managing director of Persimmon’s East Wales division, admitted “we could have communicated better or more clearly when you first moved in” and that his sales team had not been clear enough that the homes sold on the estate in 2016 and 2017 were leasehold. It has not been a good 12 months for Persimmon, during which it has faced…
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Latest property news
Government Help to Buy spending passes £10 billion milestone
Figures reveal staggering level of money spent by HM Treasury on the housing market stimulus package.
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Latest property news
Persimmon shrugs off Help to Buy threat as it passes £1bn profits milestone
City investors and the building giants' results took no notice of the government's intention to review its Help to Buy status.
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Land & New Homes
Persimmon faces losing Help to Buy as Minister reviews its contract
Troubled homes builder Persimmon faces losing its right to sell Help to Buy funded homes, it has been revealed. Secretary of State for Housing James Brokenshire (pictured, below) is said to be reviewing the company’s participation in the scheme after allegations of poor building standards and punitive leasehold charges emerged recently, The Times newspaper has reported. All the UK home builders’ contracts under the £8.3 billion Help to Buy scheme are up for re-negotiation after the scheme was recently extended to 2021. The newspaper was told that Brokenshire has become increasingly concerned about the behaviour of Persimmon, and that its leadership does not ‘seem to understand that it is ultimately accountable to their customers’. Half of the homes the company built last year were funded by Help to Buy, which has helped Persimmon triple the profit it makes from each house from £22,114 in 2012 to £60,219 in 2018. The company is expected to report profits of over £1 billion for 2018 when it reveals its final year end results tomorrow. The news of Brokenshire’s decision to scrutinise Persimmon ends a disastrous few months for the company’s reputation, despite its huge profits. In November its then CEO was asked to…
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