I thank my noble friend for making those points and representing the deep issues faced by consumers. Essentially, there are three. Thousands of leaseholders are facing the terrible situation that their property is valued at nothing. They have put in their life’s savings to buy a property, and they cannot remortgage or move. The pace of remediation has now slowed because of an inability to get assessments carried out by the relevant person or because they do not feel that they have insurance cover to do it. That is another issue. At the same time, because the pace of remediation has been affected, they face interim costs. I pointed out that they could be dramatically reduced, in most instances, by putting in an alarm system.
My noble friend is quite right—I have had these discussions with the insurance industry—that there are great measures, such as sprinklers, that reduce risk and ensure that a building is safer. That is why the Government legislated to put in sprinklers in all new builds above 11 metres. I am happy to meet my noble friend and any other noble Lords on these important issues, because we all share the objective of finding the right approach to deal with these great issues that face many hundreds of thousands of leaseholders in high-rise residential buildings up and down the country.