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Grumpier Old Men

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 Post subject: Cladding Issues
PostPosted: Wed Dec 16, 2020 5:40 pm 
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Joined: Sun Mar 20, 2005
Posts: 13537
Location: Reading and the Marina Alta
I have a lovely little flat on the River Kennet in the heart of Reading. A year ago it would have been snapped up for c@ £280,000. Now it is virtually unsellable.

Not because it has inflammable cladding, but because mortgage lenders are insisting that flats of this type have a form EWS 1 and there is up to three and a half years waiting time to get one.

I am not too concerned as I do not need to sell it, (but I would like to), and it rents well, but my heart goes out to those who own such flats which are their primary dwellings and probably their biggest asset. They are faced, possibly, with huge remedial costs and cannot sell, cannot move, and cannot re-mortgage.

Coupled with covid shutdowns, life looks very bleak for some.

A Fully paid up member of the Berkshire Hunt

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