Leasehold Issues For Lenders Mini-series 6: Unsafe Cladding Update

In March 2020 we reported on the legacy from the Grenfell tragedy that was adversely affecting leaseholders and lenders.

In short, unsafe cladding and general fire safety concerns highlighted by the Grenfell Tower fire have resulted in potentially hundreds of thousands of leaseholders living in flats which pose a real and immediate fire risk; facing crippling 'waking watch' fire safety guard costs, rising insurance costs and extensive, often unaffordable, costs for remedial works; and being effectively trapped, and in negative equity, in properties which are un-saleable and un-mortgageable.

A year on, Walker Morris' Paul Hargreaves, Louise Power and Sandip Singh provide an update on government and industry action aimed at tackling the issues.