Leaseholders and cladding: Sarah Heatley writes for Property Reporter
Sarah Heatley, Senior Associate at Forsters LLP, has written for the Property Reporter online, on the latest updates regarding cladding for leaseholders.
Last week the Housing Secretary, Rt Hon Robert Jenrick MP, pledged a further £3.5 billion in order to fully fund the remediation of unsafe cladding on residential buildings over 18 metres or six storeys high. Leaseholders in low-rise blocks between 11-18m in height will be eligible for a new government loan scheme under which repayments for cladding removal are to be capped at £50 per month. A developer levy to help fund these measures will be imposed on certain high-rise developments and a new tax on the residential property sector is to be introduced in 2022.
This latest announcement brought into sharp focus once again just how many people in the country are being impacted by cladding and associated issues, to date only about 200 out of approximately 12,000 affected buildings have been completely remediated.
“…the key is to get organised and act quickly so that your range of options to recoup or claim the costs of remediation is not diminished.”
Read the full article: Leaseholders and cladding: Everything you need to know