The Sunday Times has published an interesting and informative article about the numbers of leaseholders estimated to be affected by the cladding crisis.
On 20 June 2021, the broadsheet reported that some 1.3m flats are currently unmortgageable, which equates to 5% of homes in the UK. On average, leaseholders are being asked to pay or contribute £27,000 each to remediate smaller blocks.
The figures included in the Sunday Times' report were based on quite a small number of buildings (750 in total) and were provided to the paper by the Association of Residential Managing Agents (ARMA) and the Institute of Residential Property Management. Even given the relatively small sample size, the article provides a stark reminder of the impact that the cladding crisis is having on so many people.
MHCLG has sought to distance itself from the figures produced in the article and a statement given following publication can be found here.
‘Footing the bill for the cladding crisis will cost more than my flat’