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10 March, 2022
ARMA self-service library offers guidance to leaseholders. We would recommend that you view the documents available to see if they can assist. If they do not, or you require further information then please contact the Leasehold Advisory Service at email@example.com. They are a government funded body who are able to assist you and they provide free information, initial advice and guidance to members of the public about residential leasehold. They are independent and impartial and all of their advisers are legally qualified.
Building safety fund Following the tragic events at Grenfell Tower, fire and building safety has become one of the most pressing issues currently faced by leaseholders and the entire residential property sector.
Why has the building safety fund been introduced? Investigations carried out following the tragedy have revealed that numerous UK-wide buildings have been constructed, using Aluminium Composite Material (ACM) and other unsafe cladding. As a result, hundreds of buildings have been categorised as being unsafe, which is estimated to cost in the region of £15billion to rectify. In March 2020, the Government created a £1.6billion Building Safety Fund (BSF) to help leaseholders pay for the removal and replacement of unsafe ACM cladding on their high-rise buildings. In February 2021, it announced an additional £3.5billion in funding. The funding covers removing and fixing flammable elements within external wall systems. It currently only applies to buildings that are taller than 18 metres and doesn’t cover the further secondary costs for other fire safety issues that exist within buildings.