Mortgages  

Govt's threat to take developers to court ‘needs urgent clarity’

Called the Building Safety Regulator, the new body was designed to protect residents and landlords by acting as a vehicle to prosecute property developers which fail to meet the government’s cladding safety standards.

But some in the industry are worried other non-cladding issues have been “avoided” by the government, such as wooden balconies, compartmentation, and insulation.

Davies said “many freeholders and management companies are passing these costs onto leaseholders”, prompting a “need to see a proposed solution that encompasses all these problems”.

FTAdviser approached the Department for Levelling Up, Housing and Communities for comment.

ruby.hinchliffe@ft.com