Persimmon PLC Voluntary Agreement With CMA (7685C)
23 Giugno 2021 - 08:05AM
UK Regulatory
TIDMPSN
RNS Number : 7685C
Persimmon PLC
23 June 2021
23 June 2021
Persimmon plc
("Persimmon" or "the Group")
Agreement Of Voluntary Undertakings With The CMA And Closure Of
Leasehold Investigation
Following constructive discussions with the Competition and
Markets Authority ("CMA") Persimmon announces that it has agreed a
number of voluntary informal undertakings relating to its historic
sale of leasehold houses. This agreement brings to an end
Persimmon's involvement in the on-going CMA leasehold
investigation.
Persimmon stopped selling leasehold houses in 2017 (other than
in exceptional cases) and also introduced an industry-leading Right
to Buy scheme enabling customers with leasehold houses to buy their
freehold at a price below market value. The informal voluntary
undertakings agreed today largely extend existing schemes Persimmon
has in place and have been made without any admission of wrongdoing
or liability. Working with the CMA to provide further certainty and
reassurance to leasehold customers, Persimmon has voluntarily
agreed to the following:
-- An extension of its existing Right to Buy scheme to cap
the purchase price of a freehold at GBP2,000. This extended
scheme will apply to any house leases sold on or after
1 January 2000 and runs until 31 December 2026;
-- Customers who have already acquired their freeholds from
Persimmon under the existing Right to Buy scheme, and who
still own the freehold, can apply to be reimbursed for
the difference between the price paid and GBP2,000;
-- An extension of its Reservation Period for home buyers
from 35 days to 42 days.
Dean Finch, Group Chief Executive said: "Persimmon has not
historically sold leasehold houses in high volumes and introduced a
Right to Buy scheme for leaseholders in 2017. However, we are
committed to putting our customers first and have voluntarily
agreed to extend this existing support to provide further certainty
and reassurance.
"Building on our existing Right to Buy scheme, this agreement
provides a fair deal for all leaseholders of Persimmon built
houses, extending the opportunity to purchase their freehold at a
price well below market value. Today's agreement further
demonstrates Persimmon's determination to operate with integrity as
we continue to build a business with a long-term, responsible and
sustainable future."
Persimmon has established a dedicated national Freephone
helpline number (0800 915 6722) which leaseholders can call for
more information. Alternatively, further information can be found
at: www.persimmonhomes.com/leasehold .
For further information, please contact:
Persimmon
Anthony Vigor, Group Director of Policy and External Affairs
Tel: +44 (0)7767 425822
Citigate Dewe Rogerson
Kevin Smith / Jos Bieneman
Tel: +44 (0)20 7638 9571
Notes to editors
Persimmon has previously announced a number of measures in
respect of leasehold homes:
-- The Group stopped selling leasehold houses in 2017, except
in very limited circumstances where our development's land
is itself leasehold, typically a handful of completions
a year.
-- In 2017 the Group introduced its Right to Buy scheme to
enable leaseholders of Persimmon houses to acquire their
leases at a price below market value.
-- Since March 2019 the Group has been a signatory to the
Leasehold Pledge, a government-backed pledge which commits
freeholders, developers, conveyancers and managing agents
to taking concrete steps to help leaseholders who are stuck
in unfair deals.
Today's announcement brings to a close the CMA's enforcement
action on Persimmon, announced alongside three other volume
housebuilders, on 4 September 2020.
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END
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