Taylor Wimpey CEO Pete Redfern has told leaseholders today that his company’s “review” into its ground rent scandal will not conclude before the end of April.
Mr Redfern also references being “aware of the work being undertaken by the Government on this issue and wish to understand their future plans for leaseholds”.
Sebastian O’Kelly, of LKP, has responded to Mr Redfern suggesting “this appears little more than a strategy to cause further delay, and, of course, the ‘review’, requiring essential further information, may well be postponed to a later date”.
The response was copied to Sajid Javid, DCLG Secretary of State, Gavin Barwell, housing minister, and LKP patrons Sir Peter Bottomley, MP, and Jim Fitzpatrick, MP.
“This is a surprise, as the data of lease sales to your customers and the freehold sales to assorted investment groups, both in the UK and offshore, is well known to your company …
“Like Mr Micawber, Taylor Wimpey appears to be hoping that “something will turn up” to help it resolve a mess of its own making.
“Meanwhile, your company has achieved further celebrity this week on BBC R4 You and Yours; BBC TV Facing East and the Sunday Times is preparing another outing; as is BBC TV’s Rip Off Britain.
“And so it will continue.”
Mr Redfern told the Taylor Wimpey leaseholders: “This is a complex matter concerning a number of customers and it is important that we do a thorough and complete review in order to assess fully how we may be able to help.
“We are gathering together our own company information, and information from customers, as well as seeking input from experts and lenders in order to fully understand issues around valuation, saleability and mortgageability.”