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I've read several articles about the issue with Manchester tower blocks and some of those residents have quoted costs of £100k+, in some cases as much as the value of the flat
Artisan, a north-west property firm, owns the freehold to Connect House, which it converted into flats and commercial space in 2003. Leaseholders said the firm had failed to install fire insulation and used cheaper combustible timber stud to attach the cladding when carrying out the work.
Artisan said the work had been completed “in accordance with all planning laws and building regulations in force at that time”.
A comprehensive fire risk assessment in March found the building unsafe, with the total cost of fixing the defects of £5.2m. Leaseholders were liable for 70% of the cost, with those in bigger flats billed £115,000. The average charge was £78,000 per flat. Residents have been told that two-thirds of the charge had to be paid by the end of 2021, a bill of £75,900 for those facing the maximum levy.
Treadway said the stress of the charges had been “extremely debilitating”, especially with a new baby, and that he had sought help from his GP. “Boris Johnson has got a new son – surely he wouldn’t want to be in this position. The government fund is our best hope.”
In a letter to Powell, the leaseholders wrote that most of them faced “the devastating prospects of losing our apartments or having to file for bankruptcy as we are simply unable to repay such staggering amounts”.
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greentricky
This is madness.
Do you have a source for the £68k figure? I've seen on gov.uk they're saying "But, to make sure that these costs are affordable, we have deliberately included powers to limit the costs that can be re-charged to leaseholders" but am interested to know what they're deeming as 'affordable'.
I'm lucky enough to have been able to get an EWS1 form for my flat, after going around the housing association and directly to the property developer, but am still following the issue. My step-brother has been told by his HA that it could be up to 10 years before they're able to complete the required work on his building, and until then he's stuck unable to sell or remortgage.