Leaseholders’ life savings being drained, cladding campaigners warn
Summary
Campaigners say many leaseholders are still bearing significant costs linked to historic fire safety defects, despite ongoing government efforts to expand protections. The Remediation of the Unsafe Cladding Bill, debated at second reading on 27 October, would widen protections for some buyers, extend support in certain cases involving multiple-property owners, and create new funding routes for collectively owned and enfranchised buildings.
Why it matters
The measures could affect the saleability of flats with unresolved building safety issues and may reduce transaction friction for affected properties. Surveyors may need to understand the evolving liability and remediation framework when advising on valuation, risk, and marketability.
Key points
- Leaseholders are still facing bills for historic fire safety defects years after Grenfell.
- The Bill aims to extend protection to more leaseholders, including some who previously missed out due to a former owner's circumstances.
- The ownership threshold for multiple-property owners is set to rise from three to six in relation to some non-cladding defects.
- New funding is proposed for collectively owned and enfranchised buildings not covered by the Building Safety Act.
- Manufacturers linked to unsafe cladding and insulation could face legal duties, criminal penalties and fines of up to £500,000.
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