Home builders face forced land sales if they are unable to build a home – Mortgage Strategy
Home builders who fail to build a home could be deprived of land and face fines under a new Housing Department proposal.
The department said developers must also commit to delivering the time frame of new homes before obtaining a program permit to ensure “a faster delivery of thousands of new homes committed to the community”.
It added that home builders will have to submit annual reports to local councils.
But the government said builders “always unable to establish consent locations, and those who simply ensure that the plan permits are for land exchange transactions may also face a “delayed fine” for each person’s unqualified home, paid directly to local planning agencies.”
It added: “Those who deliberately sit on important lands, without building the promised houses, can see the ruins received by the council, where there is a public interest and deprived of future plans permits”.
The latest move by the government supports its commitment to build 1.5 million homes over the next five years and is released over the weekend.
Deputy Prime Minister and Housing Secretary Angela Rayner said: “The government has taken radical steps to overhaul the planning system to make Britain build again after years of inaction.
“It’s time for developers to roll up their sleeves and play their role.
“We will go further to get the home we need. For decades, there are no more sites that plan to permit dust gatherings, and a generation is working to climb the housing ladder.”
The Ministry of Housing added that a large housing website with more than 2,000 homes will take at least 14 years to build, “which means working families and young people spend years on home ownership or the ability to rent affordable homes”.
But if more than 40% of homes are affordable, the building is twice as fast. ” the department noted.
It said it will start “testing a new requirement, by default, large sites are hybrid tenure-to-management-to help build more homes, including more affordable homes, faster speeds”.
