David Simmonds

Given the broad cross-party consensus in the last Parliament about the importance of the new forms of legislation and the regulation that follows from it, I think we should seek to maintain that consensus as far as possible, but as somebody who in a previous life worked in banking and as a mortgage adviser, I know that the challenges around the mortgageability of properties, especially properties of novel construction, go back many decades. For instance, a very limited number of lenders will provide for properties located above shops, because of that particular sets of risks. EWS1 was a similar example; despite apparent clarity from Government, there clearly was a lot of debate within the sector and some lenders preferred to go belt and braces, demanding the provision of something that was not required by law or regulation before making a lending decision—and the then Government did significant work in the previous Parliament to bring clarity and address those problems. That is a helpful introduction to a point that I want to touch on briefly: the role of the insurance industry, both in the challenges that will follow from Grenfell and in the wider experience of our constituents. Many people find themselves significantly challenged because, owing to a lack of clarity or to uncertainty about the construction of their building, they face significant insurance costs, sometimes to the point where only one insurance provider is available. Others face very significantly increased costs because of the behaviour of a landlord who seeks to apportion the insurance costs across all the properties in their portfolio, rather than according to the risks of a specific property that a particular tenant or leaseholder inhabits. It would be helpful for the Government to give some consideration to how they can work with the insurance industry to ensure that those who are paying for insurance are paying a fair price and that it provides the necessary cover that mortgage lenders, for example, will expect. It is clear that, as well as the strong commitment we on the Opposition Benches can give to support the Government and the Minister in taking forward the regulations and ensuring that they address the concerns that have been expressed, we must also make the most of an opportunity to consider wider issues of building safety. In London, for example, there are significant numbers of Bison blocks, constructed with pre-stressed concrete—at the time, it was considered a wonder material and a means of delivering significant numbers of new homes efficiently and at a low cost—which have particular structural risks around them that local authorities across the capital and the wider country have had to address. We have also heard a little bit about the role of the fire service in carrying out inspections and prosecutions where properties are found not to meet the fire regulations. All those points are indicators of risk across the system, and there is an opportunity for Government to ensure that Ministers have a clear line of sight so that such indicators can be effectively addressed. If there is a role for we politicians to play in local government and here in Westminster, it is to ensure that all these other people are doing their job. I promise that the Opposition will support the Government as they seek to achieve that, and I hope that together we will be able to take this work forward effectively, so that all our constituents can sleep safely in their beds.