Certain mortgage lenders have committed to offering a range of products to customers looking to buy or remortgage flats affected by cladding and other safety defects.
The lenders concerned – Barclays, HSBC, Lloyds Banking Group, Nationwide, NatWest, Santander, Skipton Building Society, TSB and Virgin Money – have confirmed they will lend on buildings in England over 11 metres in height if either:
- the developers that built them are fixing the defects or are in a government-funded remediation scheme or
- the leaseholder is covered by the leaseholder protections described in the Building Safety Act, as confirmed by a leaseholder deed of certificate
At present, there are no specific provisions to assist leaseholders with insurance cover and affordability.
More information you might find useful
- What are the leaseholder protections in the Building Safety Act 2022?
- Check if you’ll have to pay to fix safety problems with your building: GOV.UK
- Building safety leaseholder protections: guidance for leaseholders: GOV.UK
- More Frequently Asked Questions on fire safety
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