Vistry won't be nationalised, UK minister says, as the housebuilder refinances £900 million and cuts regions

Pennycook gave the answer on 2 November to shadow housing minister David Simmonds, who had asked in August whether the government planned to buy or nationalise the company, Planning Geek reported. The reply was a single sentence saying there were no such plans. Construction Enquirer reported it on 9 November.

Vistry, one of Britain's biggest builders of homes for housing associations and councils, lost £661 million before tax in the first half of 2026, compared with a £41 million profit in the same period a year before. That figure included a £475 million goodwill write-down and a further £73.2 million building safety provision; the adjusted loss was £83.3 million. In a 5 November trading update, chief executive Adam Daniels said the company had begun cutting headcount as it merges 25 operating regions into 12 from January, aiming for £50 million of savings in 2027. It has not said how many jobs will go.

Average daily net debt should reach about £800 million in the second half because trading is tough and some partner-funded sales slipped into the last quarter, the company said. Vistry has started refinancing its £900 million term loan and revolving credit facility and has land sales due to complete before year-end. Its banks had already waived interest cover tests for 2026 and the first half of 2027. The forward order book stands at £3.1 billion, £200 million lower than at the half year.

The company works with more than 100 housing associations and other registered providers, including Clarion, Hyde and Sanctuary, and has a £350 million grant deal in place with Homes England. It has not published which offices or sites the regional merger affects, and fewer regions does not by itself mean site closures, Planning Geek noted.