Is Fire Risk Cladding, Material Information.

We have a new podcast to promote, going live at 3:00pm on Friday, August 9th. The topics are particularly interesting - there are two of them, really.

This then is the podcast and attendees with a whole host of experience about the content:

CLADDING MATTERS: Is Cladding with Fire Risk Content, Material Information?

Silas J. Lees - CEO of WiggyWam - Helping estate agents with a new way to succeed Author, various books including “Homebuyers Secrets” on Amazon or direct* from Silas. A wide range of experience in training investors, with experience in investing and development, too. [*Better from Silas direct, as you have access to much more free information, some great resources on the WiggyWam platform that people can access; play it right you may even manage to get a free copy of his insightful book]

Stephen Day - Senior Developer, Founder, A Lead Building Safety Campaigner – Also an Entrapped Resident of Royal Artillery Quays Residents [RAQ]

Special Guest: Sahand Mozafari – a more recent buyer who became an entrapped resident of the Quays in 2019, whose Material Information mentioned nothing of any fire risk. Sahand only found out about the danger and value of the property after the purchase.

Chairman: the legendary Gareth Wax - Many Purple Hats Ltd

So, this is an interesting scenario on several counts. While we speak in many ways directly about the Quays within the podcast, it applies to many properties throughout England and Wales. With an estimated ten thousand properties adjudged to be unsafe, it is important to establish who will take responsibility for this appalling state of affairs.

At present, the Builders and Developers prefer that the buyers, that is, the leaseholders, who are mostly already in a precarious financial position, take responsibility for what the builders and developers were responsible for creating.

Of course, these Buyers had bought their property in good faith. They had no idea what corners had been cut or how much the builders had moved from the original planning permissions given to build their flats. Some of the owners have been residents since the flats were built in 2002.

Two of our attendees tomorrow were not original flat owners. Steve Day bought his flat ten years ago when the instability and fire risk of the cladding were unknown. Only Grenfell’s disastrous loss of lives led to the investigation of the safety of both the cladding and how it was applied.

So, Steve woke up one October morning in 2018 to find his flat worth about zero because it was almost uninsurable, and no one would offer a mortgage on a property containing material considered a fire risk. To make matters worse, Barrett Homes, the Builders are refusing to remove the materials that are a fire risk. Little chance of selling that, then.

Comments from various inspections do not just include materials as being a fire risk; they also draw attention to Barratt, the Builders' shoddy workmanship. Barratts has not responded to the comment about their workmanship. Barratts hold the key to all of this, whether their application of Cladding should be Material Information or not. They could just get the job done and this appalling situation would be over and done with.

Let us look at the plight of our guest of the week, Sahand Mozafari , who, in 2019, bought into this mess without being aware that his flat was in a building at risk of fire. I trust you noted that flat owners like Steve had been informed of their flats' true position because of Barratt’s inefficiencies in the Autumn of 2018. A good question here: should the flat purchased by Sahand have contained Material Information about Barratt’s inefficiencies?

This is what Friday’s podcast is all about. The balancing act to add his vast knowledge to the discussion is Silas J. Lees. And, of course, our chairman on the day is Gareth Wax. Be great to have you there for the live broadcast. Do make comments and ask questions. We will be working on Cladding Matters and the works of John Lytton, the fifth Earl of Lytton, for some time to come, so any questions or suggestions of content will be much appreciated.

Remember: If the live podcast at 3:00pm is not convenient for you, the recording will always be available on my LinkedIn profile or the profiles of our attendees. See you there.