£3.5 billion and loans announced to fix cladding scandal

Housing Secretary Robert Jenrick yesterday announced an “unprecedented” £5 billion investment in building safety, including a new £3.5 billion to fully fund the cost of replacing unsafe cladding for all leaseholders in residential buildings 18 metres (6 storeys) and over in England. This is in addition to £1.6 billion pledged last year.

But, for lower-rise buildings below 18 metres with dangerous cladding, the government has pledged only loans for leaseholders with repayments capped at £50 per month “or far less.” This has not been welcomed by thousands of homeowners stuck in unsafe buildings.

In February 2015, ULS Technology plc (LON:ULS) took a 35% share in HomeOwners Alliance, a website offering information and services to UK homeowners and prospective homeowners. Gresham House Strategic PLC (LON:GHS) has a 6.56% stake in ULS Technology.

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