UK warns builders to sign ‘cladding pledge’

 

Bloomberg

Britain’s homebuilders have six weeks to sign a UK government contract that will commit them to repair unsafe cladding on apartment blocks — or face banishment from the housing market.
The pledge will commit firms to spend an estimated £2 billion ($2.5 billion) to fix tall buildings they developed or refurbished over the past 30 years, according to a government statement published Monday. Legislation will be brought forward in the spring to prevent developers from operating freely in the housing market if they fail to sign the contract.
The move will protect thousands of leaseholders across England, the Department for Levelling Up, Housing and Communities said in the statement. These households would otherwise face costly repairs for serious safety faults, including non-cladding related issues.
“Too many developers, along with product manufacturers and freeholders, have profited from these unsafe buildings and have a moral duty to do the right thing and pay for their repair,” Levelling Up Secretary Michael Gove said in the statement. “There will be nowhere to hide for those who fail to step up to their responsibilities.”

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