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If she purchased it under shared ownership or whatever it's called, she needs to act now to take advantage of the loophole which some have exploited to settle the equity loan at market rate. At the moment the market rate of her flat will be 50k or whatever. That won't last forever, because once the cladding situation is resolved the flat will be back to market value.
princeperch-
Surely there is a huge opportunity to make money here if you can buy these flats way cheaper than market value less cost of rectification? Seems odd that the £600k flat in the article was valued at only £90k, as the costs to rectify the cladding can’t be that much.
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Ta. Will pass this info on. I think she didn't used whatever the gov scheme was called at the time when she purchased though, just a regular mortgage.
NickCJ
Hovis
We certainly hope so. Makes no sense otherwise, but the developer is obv trying its hardest to not bear the cost, and will drag it out as much as they can as a result.
Not sure I understand, can you elaborate?