This is long and complicated, my apologies.
I'm posting here for traffic, in desperation, because I believe in the hivemind of Mumsnet.
We are stuck in a flat (in England) that is unsellable due to the cladding crisis.
My spouse bought the flat in 2011, via a shared ownership scheme (we met after that and married in 2021). We own 40% with a mortgage and pay rent to the housing association for 60%.)
The housing association has done all the applications for government grants to do the remediation work (to make everything safe and saleable again). We are eligible and that should all go through fine, but nobody knows when. It's been a few years now and we need to move for jobs, schools for kids etc.
The housing association have granted special permission for us to let the flat (as has the bank/ our mortgage lender). This is all fine. We won't make a profit, it will just cover the mortgage/ upkeep of the flat and allow us to move out and purchase another property in the area we want to live.
We will finally be able to move on with our lives (we have a growing family and it's a small flat. It was great when we were younger but it's not ideal for young kids- we saw a stabbing take place just below our balcony at 8pm the other night) and the air pollution isn't good for little lungs. etc etc.
This is my concern: What if we do all the above, but in a few years time (when they finally do the remediation work) Someone from somewhere tells us we are no longer eligible to access the government funding/ grant because it's a second home and we have sublet it?
My spouse vaguely remembers the housing association had to complete paperwork to say that none of the residents had second homes... (How could we?! You can't be eligible for help via a shared ownership scheme if you are so well off that you already have another residence and/ or could purchase it as an investment opportunity!?). Also, at this time nobody was allowed to sublet under the leasehold terms.
The only reason we are allowed to let now, is because it's classed as extenuating circumstances- without this option we would literally be trapped and unable to move on with our lives.
This was never meant to be a forever home. We have a family now and with our combined savings (albeit a MUCH smaller deposit and our choices are very limited...) we are able to move. Hopefully when we eventually sell the flat, we will be able to improve things in our new place/ area.
I spoke to a solicitor this evening via an organisation set up to support people in our situation (free 15 minutes of advise) and she said that there is nobody who can give any assurance because the policies are changing all the time and what stands today might not be the same in a few years time.
She said that 'Homes England' regulate shared ownership housing- so I should ask them.
She also said I should write to the 'Building safety fund' team, to ask them. And they are regulated by the 'Department for levelling up, housing and communities'. So I should write to them too and ask them.
But she seemed to think nobody would know or care or give any guarantees.
Now I'm terrified as we have had an offer accepted and will likely have moved and let out the flat as planned within the next few months.
We don't want to own a second property and we never planned to let it out. If we could sell it and buy a new home we would. We are buying a 'second home' because it's our only way out.
We will be penalised all the way... extortionate stamp duty etc.
If we manage to make it work, it will all be worth it. But not if we end up with a life shattering debt in a few years, when they do the remediation work on the flat.
I'd love to know if anyone else has been in this position?
Or if anyone has any idea what I should do to ensure we don't end up with a MASSIVE building works bill that we can't afford, when the remediation work is complete, because despite the circumstances and the permissions given to sublet our flat and purchase a second home, it somehow stops us being eligible for the government grant?
Just to add, I've no idea if having a second home or subletting WILL block us from accessing government funding (I'm just worried that it might) and nobody is giving us any answers when I ask. I've asked everyone I can contact at the housing association but nobody knows.
Grateful for any insights. So far, we've written to MPs, harassed the housing association, got all the permissions needed to sublet. We know about 'end my cladding scandal' and we've read everything we can fin on the government website. Still very confused.