Posted by: westlancashirerecord | February 26, 2019

Help To Buy Helps Builder To Record Profits

Something to look forward to?

The appalling proposed West Lancashire Local Plan will provide massive profits for housing developers. It’s a given! Just as profits have topped £1bn for the first time at scandal ridden housebuilder Persimmon, which was caught in a pay row last year and is under scrutiny over its continued involvement in the Help to Buy scheme. Annual profits jumped 13% to £1.091bn, up from £966m in 2017.

Help to buy? Help yourself Persimmon!

The firm sold 7,970 homes under the scheme in 2018, up from 7,682 in 2017. At the weekend, a source close to Housing Minister James Brokenshire said he was “increasingly concerned” by Persimmon’s practices, including its use of leasehold contracts, the quality of its buildings and its leadership. He said this meant its inclusion in the Help to Buy scheme was under review. Probably depends on its willingness to donate to party funds?

The firm also said its interim chief executive, Dave Jenkinson, would now take on the role permanently. His predecessor, Jeff Fairburn, left last year following controversy over his £75m pay package. The results come a day after shares in Persimmon fell 5% fell because of questions over its continued involvement in the Help to Buy scheme.

Move with just a 5% deposit using Help to Buy: Equity Loan. 

Why wait? It’s only taxpayers who pay for it!


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