Those now responsible for fixing unsafe cladding are also to face harsher penalties for not complying. For example, cladding companies that produce defective products for fire-proofing will be subjected to fines and could potentially be sued for not fulfilling their obligations.

The government has also introduced a cap to protect leaseholders with non-cladding works. In situations where freeholders and developers are not able to bear the costs of such works, landlords will only have to pay up to £15,000 for properties in London and up to £10,000 for properties in the rest of the UK.

Significantly, landlords with more than two properties will not be covered by these changes. As a result, many landlords may face huge costs and difficulties with mortgaging and selling properties in their portfolio - especially where they have bought multiple properties in one building.

If you need any further information, it’s worth heading over to the government’s website, where full details of the proposed bill can be found.

Source Open Rent Forum March 22