Northern housebuilders Bellway and Persimmon have signed up to the Government’s post-Grenfell scheme on building safety, confirming that it will cost them more than £850m.
The Newcastle and York-based firms have signed the Self-Remediation Terms (SRT) with the Department for Levelling Up, Housing and Communities (DLUHC), having signed up to the broad principle of the scheme last year. Major housebuilders have been told they will be blocked from construction schemes if they do not sign up the scheme, which was brought in after the Grenfell fire in 2017, but many were reported to be frustrated at a lack of detail from the Government on the programme.
In a statement to the Stock Exchange yesterday, Bellway said that signing up to the scheme was in both its own interests and that of homeowners. It said it would pay back the Government for £22.8m it had paid to improve safety at Bellway-built properties, and had set aside a total of £513.7m over the last five years to remediate apartment blocks it had built.
