Introduction to the cladding scandal

Almost five years ago in June 2017 we witnessed the most horrific fire seen in a tower block for years. The Grenfell Tower fire touched thousands of people and caused a national scandal. The scandal surrounded the use of metal cladding that had been placed around the fire block. This cladding exacerbated the fire causing it to spread quicker throughout. Results from this caused more damage and costed many more lives of the people who lived in Grenfell Tower.

With this revelation of the dangers of cladding, countless councils found that tower blocks in their areas were also covered in this flammable cladding. Soon after the tragedy the government announced a scheme that would remove and replace the dangerous cladding. However, recent government announcements has caused controversy among residents with regards to the cladding. In this article we will be looking at what these issues are and what the government are trying to do.

The Governments Plan to tackle cladding

The government has announced that it will contribute £5 billion to address the issues surrounding the metal cladding. 35 of the biggest buildings in the country have pledged to fix all buildings they have built over the past 30 years. It has also insisted that new powers will be created to allow enforcement on any companies that refuse to sign up to this scheme.

What are the Problems?

One main concern among residents is that it is quite vague and that not much will be done. Due to a lack of a timescale being introduced many believe that property developers will simply drag it out. This way property developers will be able to avoid paying out for various costs. Another fear among residents and leaseholders is that the cost will fall to them. Nearly all residents won’t be able to pay for these repairs and a lot of them feel as though they shouldn’t pay.

This along with the fact that plenty of these tower blocks by companies that aren’t listed has left many people worried. Worry about when their flat will be made safe or if they will at all. Residents have requested that more detail and guarantees are made by the government. These would consist of a time frame of when these repairs will be made, who will pay and what will happen to those companies that aren’t listed.

Credibble offers two fabulous solutions.

If you’re preparing to take a mortgage, never apply until you’ve tried our unique and FREE Credibble Home app. Our smart technology will tell you what you need to fix so you avoid rejection. The app predicts when you will be able to buy, for how much and tracks your month-by-month progress to mortgage success. We’ve even added your own mortgage broker, so you get the best deals available.

More focused on your credit rating? Well, get started for free with Credibble’s 24- Factor Credit Check to truly help you improve your creditworthiness and how lenders view you. (Remember: lenders don’t use your credit score! We’ll show you what lenders look for and how to get your credit report in the best shape possible).

You May Also Like
Read More

Will it Become Easier Getting a Mortgage?

The Bank of England is set to unveil a change in the mortgage application system. This change could see it become easier to get a mortgage. In this article we take a look at what this change is and what it spells out for people.
Read More

Explaining the Big Bang

In 1986 the big bang occurred at the London Stock Exchange. This would have a profound effect on the financial markets for years to come and indirectly effect the housing market. In this blog post we explain the causes of the big bang was and it's consequences, both positive and negative.
Read More

Is the Housing Market About to Stagnate?

We have seen a large boom in the housing market for the past two years. Yet with the current economic situation and the threat of recession looming, will this cause a period of stagnation in the market?
I Owe Money to Resolve Call
Read More

The Housing Crisis Explained

In the past 18 months we have seen a boom in the housing market. But whilst the prices of houses has been on the rise it has also exposed a crisis within the British housing market. In this blog post we will be explaining the issues that people currently face across the country and what the government are trying to do to resolve these issues.