It is hard to believe but 2 years post the Grenfell Towers disaster there are still several 18m high + buildings with combustible cladding.
Following the Grenfell disaster, the government introduced legislation banning the use of combustible cladding and landlords and Freeholders should be testing the cladding on buildings to ensure that it is compliant with current regulations.
Official figures claim 450 buildings are covered in combustible material. Which could affect as many as 700,000.00 flat owners.
If the cladding does need replacing it is likely that the cost will be passed on to the tenants by way of service charge and you may be facing significant increases in your monthly payments.
There are number of potential problems besides the obvious safety issues which you may be faced by residents:
You may find it difficult to sell your property in its current condition
Flat owners cannot sell to get out of mortgages they cannot afford because of the current government regulations forcing families into financial hardship.
Mortgage companies may be reluctant to allow you to remortgage.
Your property may now be worth significantly less than when you purchased it.
You may be facing life changing sums of money to rectify the problem.
If you are living in a property that you have concerns about or if you are a chairperson of a residents committee and you would like some free legal advice exploring your options, please get in touch today (By completing the 'Request a call back' form).
At Mansfield Solicitors and Advocates we have a wealth of experience in sizeable group action cases and we can help navigate you through the process of making a claim often on a no win no fee basis.