Property News · April 12, 2023

We’re trapped by the cladding scandal and can’t find a way out


We urgently need to sell, but our block is exempt from the government schemeI am one of many residents caught up in the cladding scandal in the wake of the Grenfell Tower tragedy. I share ownership of my flat with housing association L&Q, which took nearly four years to survey the block to ensure fire safety compliance. It found it may not meet current safety guidelines (the estate was built by Rydon, which led the refurbishment of Grenfell). Further inspections are needed and remediation work on the estate won’t start until 2025 at the earliest.Since my block is only four storeys, it’s likely to be one of the last on the estate to be addressed, so it could take years more. This leaves residents unable to sell or staircase their ownership share. In the meantime I am faced with inflation-busting rent and service charge increases for a property that is essentially worthless, not to mention the potential costs of remedial works. And because the building is below 11 metres high, it is not eligible for the government’s building safety fund. Continue reading…

Source : theguardian.com
Read more…We’re trapped by the cladding scandal and can’t find a way out

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