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How Labour’s favourite housebuilder became a ‘corporate disaster’
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Vistry is one of only two private sector providers eligible to become a "strategic partner plus" for Labour's affordable housing scheme, leading it to be called "Labour's favourite housebuilder".
"It is a corporate disaster of a scale that no one has really wanted to shine a light on," said one former Vistry insider.
The housebuilder has also turned to discounting homes by more than £100,000 to boost sales and produce more cash.
When Greg Fitzgerald unveiled plans three years ago to transform his business Vistry into an affordable housing contractor , it was hailed as a masterstroke.
A Vistry spokesman said: "We continue to have confidence in our business model and the strong relationships we have built with our partners over many years.