As the risk was "significantly lower" on buildings below 18m, a new “long-term low-interest scheme” has been announced to remove cladding on those buildings between four and six storeys high, rather than using taxpayer funds, putting the costs squarely with leaseholders. With loan repayments capped at £50 per month.
“No leaseholder will ever pay more than £50 a month towards the removal of unsafe cladding, many far less,” Robert Jenrick said today.
The news was not well received, with Labour's shadow housing secretary, Thangam Debbonaire, calling the proposals "an injustice" that would "pile financial misery" on homeowners.
There are still questions that need to be answered about spiralling insurance costs – some rises as much as 1000%, tackling criminal service charges, and unsellable homes.
It is great to announce some good news in these grim times. Robert Jenrick, the government Housing Secretary is proposing new laws to scrap ground rents for millions of households, and give them a new right to extend their lease to 990 years at a far cheaper cost.
Could it be time for you to move out of London? We've run the numbers and worked out how much you could save by moving out of London to all regions of the UK, whether you're renting or a homeowner (both mortgage repayments and house prices). Check it out below.