Tower block repairs

Errata

It seems to me that if the council would be willing to put a charge on the property then that would be the best solution. He can continue to live there with no financial worries, and he won't need the property when he's dead or perhaps moves into residential care.

Ibanez

Errata wrote: »

It seems to me that if the council would be willing to put a charge on the property then that would be the best solution. He can continue to live there with no financial worries, and he won't need the property when he's dead or perhaps moves into residential care.

Im not quite sure what "putting a charge" on a property means. But I was also thinking about these scheme's where you can sell a property but continue to live there, where by gaining money in the bank.

This and all your comments will give me things to find out about to try to advise him.

EdInvestor

Councils will also normally be willing to negotiate payments over a longer time period where leaseholders are financially constrained.'Putting a charge' just means that if the property is sold, the debt to the council must be paid before the proceeds are given to the seller - it's similar to a mortgage.

Ibanez

EdInvestor wrote: »

Councils will also normally be willing to negotiate payments over a longer time period where leaseholders are financially constrained.

Thats encouraging news, but I think he will have enough money to pay although I fear he wont have much left afterwards.

Errata

Ibanez wrote: »

Thats encouraging news, but I think he will have enough money to pay although I fear he wont have much left afterwards.

It's still worth discussing all payment options with the council, and for instance a charge on the property would mean his heirs would inherit a bit less than they otherwise would. Which they would anyway if he uses his savings to fund the repairs.

DeadCat

You never know what the council has up its sleeve for the future after these current works are finished. The maintenance costs of tower blocks only increase as they get older and legislation comes into force requiring increased standards for fire safety, general health and safety, thermal insulation etc. as well as security, landscaping upgrades, cyclical redecorations and repairs etc. These are costs a homeowner would not encounter if they owned the freehold of a bungalow which requires only little maintenance.

Whether the wifes uncle actually would want to move from his home of 30 years or whether they could sell the flat for enough money to afford a decent bungalow are the crux of any long term decisions of course.

Fire_Fox

This whole website is excellent and they also offer a free telephone advice service and mediation. There is a section on consultation (under publications tab) on major works that needs to be read as your uncle has the right to object to the works or ask for a different contractor to be used.
http://www.lease-advice.org/

poppysarah

Someone I knew bought a flat in a block just after concrete repairs which were supposed to extend the life of the block by 25 years.
less than 10 years on the concrete is flaking off and the rear gardens of the block have been shut as it's not deemed safe. He's trying to sell his flat - any future repairs will be astromonical and possibly won't work to save the building.
Flats are always going to be a nightmare in terms of costs outside your control.

Ibanez

Fire_Fox wrote: »

This whole website is excellent and they also offer a free telephone advice service and mediation. There is a section on consultation (under publications tab) on major works that needs to be read as your uncle has the right to object to the works or ask for a different contractor to be used.
http://www.lease-advice.org/

Thanks for the link, that is very useful.

And thanks one and all for all your comments and words of wisdom... the more I read the more ideas I am getting.
I think we have some positive things to tell him now.

Dave

DeadCat

poppysarah wrote: »

Someone I knew bought a flat in a block just after concrete repairs which were supposed to extend the life of the block by 25 years.
less than 10 years on the concrete is flaking off and the rear gardens of the block have been shut as it's not deemed safe. He's trying to sell his flat - any future repairs will be astromonical and possibly won't work to save the building.
Flats are always going to be a nightmare in terms of costs outside your control.

Agreed, flats are timebombs. I've just bought a new build flat for the reason that the maintenance costs will be low for the first few years. I plan to sell and buy a house in 4 years time which means hopefully I won't have to contribute to its first external redecoration.