The Property Institute has called for tougher legal powers to force developers to accelerate cladding remediation after new research found Government-funded schemes are progressing at more than twice the rate of developer-led projects.
Almost half of monitored residential buildings with unsafe cladding in England have yet to begin or complete remediation work, despite an estimated £22.7bn being allocated to the programme.
According to Propertymark concerns remain over rising costs, like cladding remediation delays, which aren't being fully addressed.
This move comes after some lenders withdrew mortgage offers due to uncertainties about the validity of certain EWS1 forms.
Propertymark acknowledged the desire to make homes safer but expressed that the deadline may be too late.
The plan aims to speed up the remediation process, hold irresponsible freeholders accountable, and provide clearer timelines for residents.
In June 2024, the Housing (Cladding Remediation) (Scotland) Act 2024 received Royal Assent.
The report found that 1,392 buildings had fully replaced all flammable cladding, as of August 2024.
The NAO’s report follows the publication of the Grenfell Inquiry in September, which examined the root causes of the fire in June 2017 that resulted in the deaths of 72 people.
The Bill is being introduced to reduce the risk to life from unsafe cladding on people’s homes and gives powers to Scottish Ministers to assess and remediate certain types of buildings with unsafe cladding.
Virgin Money, TSB and Skipton Building Society have added their names to a statement already signed by six major lenders.
The Scottish Government has introduced a new legislative proposal aimed at improving the safety of buildings with unsafe cladding.