Want to create an interactive transcript for this episode?
Podcast: FTAdviser Podcast
Episode: Lenders stand firm despite govt's 'change of heart' on cladding
Description: Last week the government announced a U-turn in its cladding guidance. It said leaseholders living in buildings under 18 metres tall would no longer need external wall application (EWS1) forms. Many leaseholders have found themselves “stuck” in properties deemed undesirable by lenders due to the risk of huge cladding removal bills - some estimated at as much as £70,000 - hanging over them.Now, high street lenders HSBC, Barclays, and Lloyds Banking Group have committed to reviewing their practices following the government’s new advice to “further unlock the housing market”.But why now? Will lenders really change thei...