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Should I buy a flat with cladding that's being removed?
SouljAcker_4
Posts: 5 Forumite
I'm considering putting an offer in on a flat has cladding on it. It is currently being removed and due to be finished in January. It has no EWS1 certificate.
The government is funding it and there will be cost to residents.
The flat is not currently mortgageable because of the cladding and so it is a cash-only sale.
I'm hoping this is a potential bargain as the value should go up once the cladding is removed and the flat becomes mortgageable again.
I'd like any advice on what the dangers are and what do I need to check as I don't know much about this myself and don't want any nasty surprises.
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The most obvious one is delays in getting the work done and living with scaffolding around the flat for months. Then you have to think whether the work will be completed to an acceptable standard, in terms of aesthetics, insulation and workmanship. Third problem will be what happens if costs escalate or some flat owners can’t or won’t pay.I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Thanks Silvercar. Yeah, the scaffolding will be a pain and I'm trying to find out what the final plan is for what they will replace the current cladding with. The government is funding the current so I'm not so worried about the cost it's more if potential issues in the future I haven't thought of.0
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Hello, do you have an update on this. I am in a similar situation and was wondering whether you received any good advice/went ahead with the purchase? Thanks0
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Souljacker hasn't been on the forum since October 2022.dsilva9294_2 said:Hello, do you have an update on this. I am in a similar situation and was wondering whether you received any good advice/went ahead with the purchase? ThanksI'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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