Protection for Homebuyers

Part of Treasury Committee – in Westminster Hall at 2:43 pm on 13th December 2018.

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Photo of Diana R. Johnson Diana R. Johnson Labour, Kingston upon Hull North 2:43 pm, 13th December 2018

We also want to see more house building, so we need to get this sorted out and to get it right.

My constituents have asked me to say that they feel that the way in which a company such as Persimmon has behaved—with disregard for their problem for so many years—is an utter disgrace. Persimmon should be facing massive fines for its behaviour, not giving out the massive bonuses to which many hon. Members have referred.

As I started by saying, in Hull we have one of the most successful help-to-buy schemes. Persimmon has benefited, as did the former chief executive Jeff Fairburn with much of that £75 million in pay, shares and bonus that he pocketed. He has gone, obviously, but his successor at Persimmon, David Jenkinson, is getting about £40 million from the bonus scheme. That is not acceptable, and I hope that the Minister will comment.

In conclusion, my constituents’ issue has gone on for far too many years. It needs to be resolved. I hope that we see progress on an ombudsman with some real powers on the side of residents who have done their best—they are aspirational and want to buy their own homes—but find themselves in a nightmare scenario in which companies can simply ignore them and their problems.

[Mr Virendra Sharma in the Chair]