Industry reacts to extra funding promised for cladding issue
Addressing Parliament this afternoon, Robert Jenrick has promised an extra £3.5bn of funding to remove unsafe cladding from high-rise buildings over 18m “at no cost to residents”.
Jonathan Frankel, head of the Property Litigation Dept at Cavendish Legal Group, said:
“The £3.5bn announced today is completely insufficient to deal with even a fraction of the blocks up and down the country where these repairs must take place.
“But the fact that it only applies to buildings over 18 metres will cause even more uncertainty for those residents and leaseholders living in lower rise blocks where they feel insecure and unsafe. It may be considered a lower risk, but it’s a risk nonetheless which will impact the saleability of their property.
“The leasehold protection scheme capping payment for repairs at £50 a month for leaseholders which has also been announced will bring little comfort to many who feel they shouldn’t have to pay for somebody else’s mistakes.”
Mark Hayward, Chief Policy Adviser, Propertymark comments:
“Following the disaster of the 2017 Grenfell fire it is welcome news that the Government is finally increasing funding for residents stuck in buildings with unsafe cladding in England.
“We hope that extra funds announced today will make the process quick, efficient and cover the work needed to resolve any safety concerns residents face. Today’s announcement is just a start and the Government must now also commit to completely eradicating this type of cladding to ensure the safety of all properties and residents, not just in England but across the United Kingdom. Supporting and challenging our industry to deliver change is more vital now than ever, and it is encouraging to be one step closer to ensuring that people are safe within the confines of their own homes, as standard.”