Banks potentially set to lend against defective tall and mid-rise buildings – will leaseholders be able to cash in?

“UK Finance” (the banking trade body) has recently announced that six of the UK’s largest banks (Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander) have agreed to offer mortgages on buildings with fire safety defects. This announcement, which is certainly welcome news to the sector, appears to be a radical reversal of lenders’ attitudes towards the risks in defective tall and mid-rise buildings.

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