Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
In the private sector, where eligible, the fund will cover the capital costs of removing and replacing unsafe non-ACM cladding systems on high rise residential buildings which would otherwise be passed on to leaseholders.
In the social sector, where providers qualify, the fund will cover the capital cost of the remediation to high rise residential buildings regulated as social housing. For social providers whose viability is not threatened by the cost of work, the Department for Levelling Up, Housing & Communities will open a claim process in July 2020 to meet the remediation costs which would otherwise be passed to leaseholders. In both sectors funding for mixed use residential and commercial developments will be accepted.
The fund will not meet the cost of interim safety measures such as Waking Watches. However, it is designed to ensure that the remediation required to remove those measures is undertaken as quickly as possible.
In both sectors, the fund will not be available for:
- remediation work on buildings with non-ACM cladding systems in scope that had been committed to, or where work had started on site, prior to the Budget announcement on 11th March 2020.
- other non-residential buildings, for example Hotels, Hospitals and buildings where there are no residential leaseholders.
- buildings under 18m in height (allowing for a 30cm tolerance as set out below)
Click here for more information on the scope of government funding