On 18 December 2023, UK Finance and the Building Societies Association issued an update to this joint statement. The statement clarifies which mortgage lenders will lend on properties with building safety issues.
These are: Barclays, HSBC, Lloyds Banking Group, Nationwide, NatWest, Santander, Skipton Building Society, TSB and Virgin Money. They have confirmed they will lend on buildings in England 11m+ in height that:
- will be remediated by the developers that built them or are in a government-funded remediation scheme,
- or the leaseholder is covered by the leaseholder protections described in the Building Safety Act, as evidenced by a Leaseholder Deed of Certificate.
This is a significant step forward and will enable thousands of leaseholders in homes with building safety issues to move on with their lives.
To help you understand your rights and whether you qualify for leaseholder protections, the Government has produced a Leaseholder Protections Checker and detailed guidance. The Checker uses information from leaseholders to work out the maximum amount they may be charged under the new protections in the Building Safety Act.
Those that the protections apply to will need to complete and submit a leaseholder Deed of Certificate to their freeholder who will confirm if they have to pay any money or not.
More information you might find useful:
- What are the leaseholder protections in the Building Safety Act 2022?
- More Frequently Asked Questions on Fire safety
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