Incredible scenes from the cladding crisis today (England not Scotland). UKGov to pay an extra £3.5bn towards the cost of recladding affected blocks - in the form of loans. Homeowners will have to pay back the cost every month. Who on earth would buy a flat with that kind of debt
Loans have been offered on blocks between 11 metres and 18 metres high. For blocks over 18m the UKGov will pay and claw back cash from developers, presumably through court cases. This is only for cladding. No funding - grants or loans - for other fire safety breaches
In England alone, there are 80,000 11 metre to 18 metre blocks. It will take each household on average 66 years to pay off 'their' debt
and no word of help for blocks under 11 metres, or new build homes, where owners are being turned down for mortgages / spending thousands on fixing fire safety breaches
You can follow @palebackwriter.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:
Those who think consciousness raising & movement building are disconnected, or even a distraction from electoral politics have not paid attention to the history of social change.In this thread, we
Read more
The 2020s will be known as the Remote Work decadeA few predictions of what is likely to emerge[ a thread ] Third Space: Office and Working from Home will
Read more
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I
Read more
By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.