• Menu
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Before Header

  • Home
  • What is LKP
  • Find everything …
  • Contact
Donate

Leasehold Knowledge Management Logo

Secretariat of the All Party Parliamentary Group on leasehold reform

Mobile Menu

  • Home
  • What is LKP
  • Find everything …
  • Contact
  • Advice
  • News
    • Find everything …
    • About Peverel group
    • APPG
    • ARMA
    • Bellway
    • Benjamin Mire
    • Brixton Hill Court
    • Canary Riverside
    • Charter Quay
    • Chelsea Bridge Wharf
    • Cladding scandal
    • Competition and Markets Authority / OFT
    • Commonhold
    • Communities Select Committee
    • Conveyancing Association
    • Countrywide
    • MHCLG
    • E&J Capital Partners
    • Exit fees
    • FirstPort
    • Fleecehold
    • Forfeiture
    • FPRA
    • Gleeson Homes
    • Ground rent scandal
    • Hanover
    • House managers flat
    • House of Lords
    • Housing associations
    • Informal lease extension
    • Insurance
    • IRPM
    • JB Leitch
    • Jim Fitzpatrick MP
    • John Christodoulou
    • Justin Bates
    • Justin Madders MP
    • Law Commission
    • LEASE
    • Liam Spender
    • Local authority leasehold
    • London Assembly
    • Louie Burns
    • Martin Paine
    • McCarthy and Stone
    • Moskovitz / Gurvits
    • Mulberry Mews
    • National Leasehold Campaign
    • Oakland Court
    • Park Homes
    • Parliament
    • Persimmon
    • Peverel
    • Philip Rainey QC
    • Plantation Wharf
    • Press
    • Property tribunal
    • Prostitutes
    • Quadrangle House
    • Redrow
    • Retirement
    • Richard Davidoff
    • RICS
    • Right To Manage Federation
    • Roger Southam
    • Rooftop development
    • RTM
    • Sean Powell
    • SFO
    • Shared ownership
    • Sinclair Gardens Investments
    • Sir Ed Davey
    • Sir Peter Bottomley
    • St George’s Wharf
    • Subletting
    • Taylor Wimpey
    • Tchenguiz
    • Warwick Estates
    • West India Quay
    • William Waldorf Astor
    • Windrush Court
  • Parliament
  • Accreditation
  • [Custom]
Menu
  • Advice
  • News
      • Find everything …
      • About Peverel group
      • APPG
      • ARMA
      • Bellway
      • Benjamin Mire
      • Brixton Hill Court
      • Canary Riverside
      • Charter Quay
      • Chelsea Bridge Wharf
      • Cladding scandal
      • Competition and Markets Authority / OFT
      • Commonhold
      • Communities Select Committee
      • Conveyancing Association
      • Countrywide
      • MHCLG
      • E&J Capital Partners
      • Exit fees
      • FirstPort
      • Fleecehold
      • Forfeiture
      • FPRA
      • Gleeson Homes
      • Ground rent scandal
      • Hanover
      • House managers flat
      • House of Lords
      • Housing associations
      • Informal lease extension
      • Insurance
      • IRPM
      • JB Leitch
      • Jim Fitzpatrick MP
      • John Christodoulou
      • Justin Bates
      • Justin Madders MP
      • Law Commission
      • LEASE
      • Liam Spender
      • Local authority leasehold
      • London Assembly
      • Louie Burns
      • Martin Paine
      • McCarthy and Stone
      • Moskovitz / Gurvits
      • Mulberry Mews
      • National Leasehold Campaign
      • Oakland Court
      • Park Homes
      • Parliament
      • Persimmon
      • Peverel
      • Philip Rainey QC
      • Plantation Wharf
      • Press
      • Property tribunal
      • Prostitutes
      • Quadrangle House
      • Redrow
      • Retirement
      • Richard Davidoff
      • RICS
      • Right To Manage Federation
      • Roger Southam
      • Rooftop development
      • RTM
      • Sean Powell
      • SFO
      • Shared ownership
      • Sinclair Gardens Investments
      • Sir Ed Davey
      • Sir Peter Bottomley
      • St George’s Wharf
      • Subletting
      • Taylor Wimpey
      • Tchenguiz
      • Warwick Estates
      • West India Quay
      • William Waldorf Astor
      • Windrush Court
  • Parliament
  • Accreditation
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 Sebastian O'Kelly

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 John McDonnell is a leaseholder, reveals Daily Mail in hatchet job article Will Astor‘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

Category: Latest News, News, PressTag: Barratt, Bellway, David Thomas, Pete Redfern, Redrow, Roger Southam, Steve Morgan, Taylor Wimpey, Taylor Wimpey London, Ted Ayres

Latest Tweets

Tweets by @LKPleasehold

Mentions

Anthony Essien (34) APPG (37) ARMA (87) Bellway (30) Benjamin Mire (32) Cladding scandal (71) Clive Betts MP (31) CMA (45) Commonhold (52) Competition and Markets Authority (41) Countryside Properties plc (33) FirstPort (43) Grenfell cladding (56) Ground rents (54) Harry Scoffin (150) James Brokenshire MP (31) Jim Fitzpatrick (35) Justin Bates (40) Justin Madders MP (67) Katie Kendrick (37) Law Commission (60) LEASE (66) Leasehold Advisory Service (62) Leasehold houses (32) Liam Spender (31) Long Harbour (48) Martin Boyd (80) McCarthy and Stone (39) National Leasehold Campaign (38) Persimmon (49) Peverel (61) Property tribunal (49) Redrow (30) Retirement (37) Robert Jenrick (33) Roger Southam (47) Sajid Javid (38) Sebastian O’Kelly (55) Sir Peter Bottomley (201) Taylor Wimpey (106) Tchenguiz (33) The Guardian (33) The Times (32) Vincent Tchenguiz (43) Waking watch contracts (40)
Previous Post: « Leasehold needs to stop being a means to produce ‘ever-increasing profits’, says Conveyancing Association
Next Post: Now four in five homebuyers avoid new-builds … after ground rent scandals and shoddy build quality, that’s no surprise »

Reader Interactions

Comments

  1. Kim

    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.

Above Footer

Advising leaseholders. Avoiding disasters.
Stopping forfeiture. Exposing abuses. Urging reform.

We depend on individuals for the majority of our funding.

Support Us and Donate

LKP Managing Agents

Become an LKP Managing Agent

Common Ground
Adam Church
Blocnet property management2

Stay in Touch

To achieve victory in the leasehold game where you are playing against professionals and with rules that they know all too well - stay informed with the LKP newsletter.
Sign Up for Newsletter

Professional Directory

The following advertisements are from firms that seek business from leaseholders.
Click on the logos for company profiles.

Footer

About LKP

  • What is LKP
  • Privacy and data

Categories

  • News
  • Cladding scandal
  • Commonhold
  • Law Commission
  • Fleecehold
  • Parliament
  • Press
  • APPG

Contact

Leasehold Knowledge Partnership
Open Data Institute
5th Floor
Kings Place
London N1 9AG

sok@leaseholdknowledge.com

Copyright © 2023 Leasehold Knowledge Partnership | All rights reserved
Leasehold Knowledge Partnership Limited (company number: 08999652) is a company limited by guarantee that is a registered charity (number: 1162584) with the Charities Commission.
LKP website is hosted at www.34sp.com
Website by Callia Web