Subsidence

Other

Just when I thought being a property investor couldn't get any worse, I have now received a communication from the management company for the block in which I own a flat informing me about subsidence affecting the building.  It's a bit complicated:

1  The block is about 18 years old.  Subsidence was discovered while the NHBC certificate was extant.  A claim was made and remedial work was carried out.

2  Further movement has now occurred.  NHBC has expired.  Freeholders insurance company is refusing to cover it because it's 'the result of a building defect'.

3  Freeholder can't sue the NHBC for the earlier work which turned out to have not fixed the problem, because NHBC certificates are issued ro individual flat owners, not the freeholder.

4  Management company suggest we take legal advice with a view to a court case against NHBC, but with 57 flats in the block and as far as I know no owners forum, how do you co-ordinate that?

5  The deadline for being able to sue them is apparently very close.  The management company suggest getting a 'standstill agreement'. to extend that deadline. Is that likley to be possible?  How much would a solicitor charge me to organise that?