The Bill will establish a new building safety regime covering all multi-occupied residential buildings which contain two or more residential units regardless of height. Current plans will place new duties on local authorities to regulate the occupation phase of the new regime.
Remediation work has begun
In November 2023, James announced plans to address fire safety issues in all residential buildings of 11 metres and over which covers not only external cladding issues as is the case in England, but also internal fire safety issues. Eleven major developers have already signed up and officials are meeting with managing agents to make sure there are no delays.
Support for leaseholders to sell or remortgage
The Royal Institution of Chartered Surveyors announced the publication of new valuation guidance for properties in multi-storey, multi-occupancy residential buildings with cladding in Wales on 15 December, which will help support the removal of barriers to allow leaseholders to access mortgages and other financial products.
The Leaseholder Support Scheme will remain in place until 2025 to offer leaseholders in significant financial hardship the opportunity to have free independent financial advice, and if it is the right option, the chance to sell their property.
Also in her November 2023 announcement, James committed to making independent legal advice available for leaseholders, and she has now confirmed this scheme will launch in the new financial year and will be signposted through the Leaseholder Advisory Service.
