Qualifying shared ownership leaseholders are protected from all cladding remediation costs. Additionally, where capped contributions for non-cladding and interim measure costs are required, they are reduced in proportion to their equity stake in the property. Where the landlord is associated with the developer, the landlord has an obligation to pay for all costs associated with the remediation of all defects and any associated interim measures.<\/p>
All leaseholders can benefit from the funding available for cladding repairs for buildings over 18 metres through the Building Safety Fund and, potentially, the new scheme for 11-18 metre buildings (currently at pilot stage) where developers or building owners are not currently funding cladding remediation.
For those shared ownership leaseholders looking to increase or 'staircase' their ownership share, on 20 December 2022, the six largest mortgage lenders confirmed that lenders will consider mortgage applications on properties in buildings in England of 11 metres or 5 storeys and above in height with building safety issues, providing it is being self-remediated by developers, is covered by a recognised government scheme, or the property is protected by the leaseholder protections in the Building Safety Act.<\/p>
For shared ownership leaseholders who need to move for work or family reasons, the Government has also made it easier for those living in buildings that require remediation to sublet their homes.<\/p>
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