To think there should be a fund to help those affected by fire hazard cladding

[LakieLady]

I've read a couple of articles lately about people who bought flats that have been clad in flammable cladding, like Grenfell, and there has just been an item on the news about it.

Many are facing financial ruin because the cost of fire insurance on the flats has skyrocketed now that the risks are known. Some are facing premiums of thousands a year. They can't sell, because no-one will buy them because of the insurance costs. They can't not pay the insurance because it's a condition of the lease and they will lose their flats if they don't pay.

Even if leaseholders are able to pay the premiums, they are likely to get massive bills when the cladding is eventually replaced, like tens of thousands.

None of this was their fault. The people who made the cladding issued misleading test data, and even when contractors raised concerns they were brushed aside. The developers who commissioned the buildings often specified the dangerous materials.

I'm sure this will eventually lead to legal action, and there may well be compensation, but this could take years. Those who bought these properties in good faith need financial help right now.

I think the insurers, government, developers, HAs, LAs and freeholders should set up a fund now to bear the added insurance costs and the cost of making these buildings safe. It's bad enough to know that your home is unsafe without having to pay through the nose for the errors and misreprepresentation of others.

@MapleMay11

If the local authority pays into this “fund” of yours, it means that council tax payers are contributing - why should Council tax payers who might not be able to afford to buy their own homes have to pay towards someone else’s privately owned home?

I agree. Tax payers should not be picking up costs associated with private ownership.

If the buildings were built to regulation, but the regulations were not stringent enough. Surely its the people that made the regulations fault?

I am not thrilled at tax payers paying it when developers have made millions from them either though.

@Godimabitch

It's a shit situation to be in, but it should be borne by the people who made the cladding and built the buildings.

The taxpayer cant really afford to compensate for shitty business practises. Especially at the moment, we're skinter than we've ever been.

This

I guess it also has the problem that these flats will be pretty much worthless even if/when the cladding issues get sorted. Whose going to want to buy one when there have been these huge problems. Would be a huge risk to take.

I am a leaseholder in this situation, it's devastating. I sacrificed so much and put everything I have into buying my home, but if the government doesn't step in I will be bankrupt in a matter of months.

The scandal is that the government aka the tax payer will end up paying to sort this problem out. They've already committed eye-watering amounts through various funds. The latest of which opened to applications today "waking watch relief fund".

I have a lot of sympathy for people trapped in these homes & facing financial ruin through no fault of their own but it is a tricky situation. Due to the complexity of responsibility its likely they will be bailed out by public money, enabling them to retain their asset which they will then be able to profit on at a later date.

We need more robust rules around planning, development & standards when it comes to housing. There needs to be far more transparency on ownership records too but that won't happen with a Conservative government in reciept of huge donations from those with vested interest.

I saw the news this morning and the report was heartbreaking for that poor woman and really worrying. I hope she is ok.

I don't know what the solution is but it should never have come to making an individual bankrupt and contemplating their future.