EWS1 Update:
No chance of selling my flat now. Guidance was changed yesterday to bring all buildings with any type of EWS into scope.
Here is my prediction: Homeowners in blocks of flats are canaries in the coal mine for what is about to happen. Since about the 1980s buildings have been constructed as concrete and steel structures skinned with all sorts of materials and insulated between skin and structure. Fire regs have been woefully inadequate and the insulation underneath all those skins is not going to pass the combustibility tests of the post-Grenfell era especially when you consider that building materials have often been substituted by profit incentivised home builders, for similar materials that are cheaper than those spec'd by the Architects. Few records have been kept of these so invasive examinations will need to be conducted at which point 10's of thousands of buildings will be condemned to nil valuations, making them unmortgageable.
This will start in blocks of flats and quickly spread to commercial buildings causing a huge property crisis. It is of the governments making having rushed through legislation post-Grenfell with little understanding of the process for building regs and the amount of bad-buildings in 'the system'.
The cost for reparation will need to be borne by one of 3 groups; the freeholders, the leaseholders or the government. The freeholders are likely to be slippery and if necessary will become insolvent washing their hands of the responsibility, the leaseholders will bear the cost through insurance premiums but the government will likely have to foot the 10's of £B's necessary to make the repairs.
I really hope you get this sorted for your sake. Although as you said if its going to affect an awful lot of people I'd imagine the gov will want to sort it ASAP.
It's ok. I'm resigned to the fact that I can't sell my flat, will have to rent it out and move back in with my parents while I figure out what to do with my new house / how I can afford to renovate it.
EWS1 Update:
No chance of selling my flat now. Guidance was changed yesterday to bring all buildings with any type of EWS into scope.
Here is my prediction: Homeowners in blocks of flats are canaries in the coal mine for what is about to happen. Since about the 1980s buildings have been constructed as concrete and steel structures skinned with all sorts of materials and insulated between skin and structure. Fire regs have been woefully inadequate and the insulation underneath all those skins is not going to pass the combustibility tests of the post-Grenfell era especially when you consider that building materials have often been substituted by profit incentivised home builders, for similar materials that are cheaper than those spec'd by the Architects. Few records have been kept of these so invasive examinations will need to be conducted at which point 10's of thousands of buildings will be condemned to nil valuations, making them unmortgageable.
This will start in blocks of flats and quickly spread to commercial buildings causing a huge property crisis. It is of the governments making having rushed through legislation post-Grenfell with little understanding of the process for building regs and the amount of bad-buildings in 'the system'.
The cost for reparation will need to be borne by one of 3 groups; the freeholders, the leaseholders or the government. The freeholders are likely to be slippery and if necessary will become insolvent washing their hands of the responsibility, the leaseholders will bear the cost through insurance premiums but the government will likely have to foot the 10's of £B's necessary to make the repairs.