Selling property with cladding on walls.
Other

SSp
SSp
1 Thanks
12 Posts
3 years ago
0
I tried to sell my property a few months ago, and kept getting rejected by mortgage lenders.

They saw that it was cladded, and because of Grenfell they wouldnt offer a mortgage forcing the buyer to pull out.

This isnt a tower block, just two stories, also, before Grenfell the free holder did some fire improvements works because we had a number of fires in the area, so the building should now be complaint anyway, the work was completed in 2016, however this should still comply with the regs anyway, but the lender surveyor wont even look at it to confirm, and the council wont do a report, although I doubt the lender will take that into account anyway.

I ended up putting another tenant in there for now in the hopes the situation changes.

Am I stuck with this property forever?
Anyone else have a similar issue?

Surely sooner or later they will see sense and release all the property owners from the prison the government created.

Makes me wonder if its worth spending any money on it other than the bare minimum required by regulations to keep the tenants in it, and wen the mortgage term comes round send them the Keys back and let them sort it out.
Just seems like I now have a worthless property. I tried to get the council to compulsory purchase when they sent the consultation letter about the cladding replacement but they refused, would have cost them more to re build the estate.

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.