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You are here: Home / Latest News / Daily Mail attacks housebuilder bosses helping themselves to “mate’s-rates homes”

Daily Mail attacks housebuilder bosses helping themselves to “mate’s-rates homes”

August 25, 2017 By admin

Building tycoons using discounts to snap up family homes

Bosses of British building firms are buying up homes from own developments They are taking advantage of company perks including staff discount schemes Many of the homes were earmarked for young families and first-time buyers It comes as Britain is currently facing a ‘chronic shortage’ of affordable homes Bosses at some of Britain’s biggest building firms are using company perks to buy cut-price properties at their own developments.

The Daily Mail yesterday highlighted housebuilder CEOs helping themselves to new-build houses as a perk.

Cash has flowed into the housebuilders owing to the taxpayer-fuelled Help To Buy scheme, while:

“Some others have seen their profits inflated by taking cash from leasehold deals attached to the properties,” the paper says.

Pete Redfern, 46, the beleaguered Taylor Wimpey who is said to be worth £20 million, has bought five homes saving himself £80,000.

Curiously, Mr Redfern’s portfolio includes a £709,599 flat at the Mill in West Hampstead, north London.

This was one of the Taylor Wimpey London sites where Roger Southam, the chairman of the Leasehold Advisory Service, controlled the site and was a director of the residents management company until 2015.

Mr Southam and his then company Chainbow was ejected by Taylor Wimpey London and the freeholder Adriatic Land from other sites following the intervention of LKP.

Taylor Wimpey leaseholders ask: if the management company is ours, how do we oust Roger Southam?

Steve Morgan, the Redrow founder and chairman, has bought six homes off his company for £860,000 which failed to failed as affordable housing.

Ted Ayres, who runs Bellway, used a shareholder discount to save £34,000 on a family home at a development in Welling, Kent.

And David Thomas, the 54-year-old boss of Barratt Developments, bought a £579,995 show home in Surrey under a ‘sale and licence back’ deal that allows him to rent the house back to his own company for two years.

Related posts:

Daily Mail turns up the heat on ‘fat cat’ housebuilder bosses Daily Mail reports E&J Estates and wine-growing freeholder James Tuttiett The Sun attacks ‘fatcat’ housebuilders with inflated fortunes thanks to Help To Buy ‘Cameron’s brother-in-law Will Astor and the toxic leasehold scandal’, Daily Mail Leasehold ‘a lucrative way to stop people from buying their own home outright’ – Daily Mail

Filed Under: Latest News, News, Press Tagged With: Barratt, Bellway, David Thomas, Pete Redfern, Redrow, Roger Southam, Steve Morgan, Taylor Wimpey, Taylor WImpey London, Ted Ayres

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Comments

  1. Kim says

    August 26, 2017 at 11:18 am

    Ummmmm.
    Third Fisherman -Master, I marvel how the fishes live in the sea.
    First Fisherman- Why, as men do a – land, the great ones eat up the little ones.

    Pericles.

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Full Press archive

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– Government should retrospectively ensure leaseholders are a legal party to insurance and warranties – Identify offshore freeholders demanding huge sums of money, MP demands – Get freeholders in front of Communities Select Committee – Waive VAT on cladding replacement costs, says Bottomley – Steve Reed MP: ‘No other country in the European Union permits […]

Too expensive to give figures on leasehold forfeiture, says Ministry of Justice

Emma Reynolds, Labour’s shadow housing minister, has discovered that no one knows how many cases of leasehold forfeiture take place – and it would be too expensive to find out. The astonishing admission came from the Ministry of Justice in one of the last parliamentary questions of the session.

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Taylor Wimpey and Long Harbour deal to defuse toxic lease scandal … after 11 months!

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Gary Streeter MP: Hand over the freeholds at Saltram Meadows, Persimmon, or else lose Help To Buy …

Tory MP for South West Devon Gary Streeter has told Persimmon to hand over the freeholds at to buyers at its site Saltram Meadows, or else lose the Help To Buy payola … The threat is made on the Plymouth Live website this afternoon: Persimmon Homes told to return freeholds within 14 DAYS – or […]

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Grenfell cladding

Taylor Wimpey has paid out only £11.2m of the supposed £130m to sort the doubling ground rent scam

… And £30 million to remove Grenfell cladding from the sites it built Taylor Wimpey has paid out only £11.2 million of the £130 million it set aside to address the doubling ground rent scam it inflicted on its customers between 2007 and 2011. During that period, the plc housebuilder dreamed up highly aggressive ground […]

Grenfell cladding leaseholders despair of government doing anything ..

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When leaseholders unite …

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Disgraceful …

Martin Paine demanded ground rents of thousands from two London leaseholders

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