The Society of Licensed Conveyancers (SLC) is concerned over the growing costs of replacement cladding and waking watches which is likely to bankrupt many thousands of leaseholders.
The Government has repeatedly stated that building owners should pay, but so far there are no signs that they will.
John Clay, SLC Board Member that leads for the SLC on leasehold issues said:
‘The Government must step in now. The consequences of not doing so will create a major problem in the housing market with thousands of first time buyers being deprived of properties to buy as there are so many flats now unsaleable, and the current owners unable to move up the housing ladder.
“The Fire Safety Bill is coming close to its final stages but if it is passed in its current form it will make matters worse firmly placing responsibility for costs with the “building owner” which is absolute nonsense.”
The SLC has written to Robert Jenrick, Secretary of State at MHCLG, setting out in more detail the Society’s concerns and why Government intervention is necessary.
