Property: Extra funding for cladding remediation announced – leaseholders face 'no costs'

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Property: Extra funding for cladding remediation announced – leaseholders face 'no costs'

The funds have been announced for leaseholders in highrise residential buildings today. The statement came from Housing Secretary Robert Jenkins.Sp

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The funds have been announced for leaseholders in highrise residential buildings today. The statement came from Housing Secretary Robert Jenkins.

Speaking today, the Housing Secretary said: “I am therefore, today, making an exceptional intervention on behalf of the Government and providing certainty that leaseholders in high rise residential buildings will face no cost for cladding remediation works.”

Mr Jenkins confirmed those who live in high rise buildings in England would not have to pay for essential remediation.

Leaseholders will be able to access funding to have unsafe cladding removed and replaced.

The Secretary added this will affect those who live in buildings which are larger than six storeys, or 18 metres tall.

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Other measures were announced for those who live in smaller buildings.

He continued: “We will make further funding available for the removal and replacement of unsafe cladding for all leaseholders of high rise residential buildings of 18 metres or above or above six storeys in England.

“We continue to take a safety-led approach and this funding will focus on the higher rise buildings where the independent expert advisory panel tells us, time and again, the overwhelming majority of the safety risk lies.”

The statement from the Government came as thousands of flat owners faced huge bills for fire safety improvements.

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The statement from the Government came as thousands of flat owners faced huge bills for fire safety improvements.

In 2020, the Government announced a building safety fund of £1.6billion to try and help those affected.

In his message today, Mr Jenkins announced further funding of £3.5billion in addition to the previous funding.

While those in tall buildings will be able to access the funding for free, residents in shorter flats will need to take a loan.

Buildings with fewer than six storeys, or shorter than 18 metres, will be forced to take a loan to repair similar cladding problems.

Mr Jenkins claimed the risk was “significantly lower” for such blocks and many will not need to have work done.

Where repairs are essential, however, leaseholders will have access to a new system of long-term low-interest loans.

Those who sign up for the loans on offer will have monthly repayments of £50 a month.

To cover the grant, the Housing Secretary explained it “cannot be right” for the cost to fall on taxpayers alone.

Instead, a new levy was announced that will affect developers of upcoming projects.

This will target those hoping to build certain high rise buildings in England in the future.

The levy will be applied when developers seek planning permission for certain large buildings.



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