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.
On 28 July, the Department for Levelling Up, Housing and Communities announced it had reopened the Building Safety Fund for new applications. The reopening means that buildings over 18 metres with cladding issues are eligible to apply to access the £4.5 billion fund.
The announcement follows the coming into force of leaseholder protections under the Building Safety Act (the Act) on 28 June and the government’s publication of the draft contract to turn developer pledges into legally binding agreements to protect leaseholders on 14 July.
The assistance for leaseholders also includes a new online Leaseholder Protections Checker to help leaseholders understand if they qualify for financial protections under the Act, whilst legislation that is now fully operational means leaseholders can prove legally for the first time that they are protected from historical building safety costs.
The protections prevent qualifying leaseholders from paying the majority of costs to fix fire safety defects in their homes, and make those responsible, and those who own the buildings, pay instead. Further guidance to support leaseholders with demonstrating their eligibility has also been published online.
Any building owner that invoices qualifying leaseholders or continues to seek payment of outstanding bills for work to fix historical building safety defects that are needed could now face criminal action, unless they can prove they are legally entitled to recover these costs.
More information you might find useful: