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 23rd October, the Welsh Government (WG) released a written statement on Building Safety Funding in Wales. The statement outlines the Welsh Government’s commitment to exploring funding options to support leaseholders with the necessary remediation work. The Welsh Government also outlines the steps it has already taken to remediate non-compliant ACM cladding on buildings across Wales.
Julie James MS, Minister for Housing Communities and Local Government, said:
“I do not think it is right for leaseholders, who bought properties unaware that they had fundamental defects, to pay for remediation; neither do I think it is right that the Welsh taxpayer should do so.”
The Minister has also written to developers in Wales to invite them to meet and discuss the steps they will take to support the WG in remediating buildings with fire safety issues. In the open letter, the WG calls on developers to consider their obligations to the residents that live in high-rise buildings with fire safety issues.
The Welsh Government wants to limit the impacts on leaseholders as far as possible and plans to ensure that leaseholders understand all the ramifications of any action it takes so that they can be supported in the best way possible.
The WG has been undertaking a major programme of work to reform its approach and create a new building safety regime; and explains its plan in a White Paper that will be published early in 2021.