Estate Agents In York

Saturday, November 2, 2019

After Grenfell, homebuyers told their flats are worthless

Thousands of property owners in tower blocks are unable to sell or remortgage in the wake of the disaster

Lucy Stevenson is one of a new breed of “mortgage prisoners” – trapped in an unsaleable home, rejected by lenders when trying to remortgage – because her flat is in a tower block caught up in the fallout from the Grenfell disaster.

“I’m trapped... I’ve had to completely change all my plans because of this, and the stress has been unbearable,” says the NHS worker. And she is far from alone – it was claimed this week that there may be as many as 500,000 flat owners in a similar position.

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from Property | The Guardian https://ift.tt/2WA0yzu
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