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Background Robert Jenrick announced in February 2021 that there would be a ‘Long Term Loan’ Scheme, which would pay the up front cost of replacing dangerous cladding on buildings between 11 and 18m in height. Leaseholders in these buildings would then pay back the loan, at a capped rate of £50 per month. He said […]
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The latest figures on applications to the BSF have been released. These figures show that just 39 applications have been reviewed throughout May. Just 13 applicants had funding approved with £35.7m allocated between them. There are still 692 applicants that have not provided information to the BSF Team. The full released is here
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It recently became official, via an updated Guidance Document that the June 2021 deadline for applicants to complete their applications, and the September 2021 deadline for works to start have been relaxed. Whilst applicants are ‘encouraged’ to continue to work towards the June and September deadlines; in instances where achieving these deadlines is not possible, […]
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A report has been published, which looks at the range of costs currently being incurred by trapped leaseholders, in respect of a Waking Watch. The Report shows that the average monthly cost of a Waking Watch is £11,361 broken down to be costing individual Leaseholders an average of £137 per month. Costs in London have […]
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The Government re-opened the application process for the £30m Waking Watch Relief Fund; which was introduced to reimburse Leaseholders for the cost of having to install a fire alarm system under NFCC Guidance. Leaseholders in buildings that installed a fire alarm system after 17th December 2020 are able to apply to the fund. The application […]
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AXA has announced they will be offering their standard Property Owners Insurance on buildings with combustible cladding, provided there is a plan in place to have the non-compliant cladding replaced within 5 years. It has been confirmed that a sum insured will be offered up to £50m and that cover is available to all buildings […]
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The Housing, Communities and Local Government Committee have published a report calling for the Government to scrap the proposed ‘long term loan scheme’ and establish a comprehensive Building Safety Fund. The Committee also calls for funds to be made available for Leaseholders in the highest risk flats; as opposed to the current ’18m rule’. Risk […]
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Parliament are set to pass the Fire Safety Bill today. Read the commentary from the IRPM here: Fire Safety Bill Update (irpm.org.uk)
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MPs have voted against an amendment to the Fire Safety Bill which, if successful, would have protected Leaseholders from Landlords passing on costs for the remediation of non-compliant cladding. MPs voted 340 to 225 against the amendment yesterday. Read the full article here: Vote to protect leaseholders from cladding costs fails despite Tory rebellion (msn.com)
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On the 5th April 2021 a Guidance Note from the RICS for Lenders and Valuers became effective. UK Finance, who represent the 200 largest lenders in the UK, initially advised that approximately 70% of the lenders it represents would work in accordance with the Guidance Note. Now, lenders have shared their approach to this Guidance […]
view moreIf you have a cladding issue and need help in progressing matters to conclusion, there is no time to lose.
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