Taxpayer 'could underwrite mortgages' to solve post-Grenfell housing crisis
Taxpayer 'could underwrite mortgages to solve post-Grenfell housing crisis for homeowners in flats with cladding' Bosses of Lloyds, Natwest, HSBC and Barclays at Downing Street this week Cladding at fault for fire in 2017 at London tower block that left 72 people dead Work to remove it from other blocks has created huge bills for homeowners
View
comments
Ministers have held talks with some of the UK's largest mortgage lenders about underwriting home loans for people in homes affected by the post-Grenfell disaster cladding crisis.
Representatives of Lloyds, Natwest, HSBC and Barclays were among those at a meeting at Downing Street earlier this week to find a solution to a problem that has affected hundreds of thousands of people.
Rule changes brought in after the fire in 2017 that left 72 people dead have seen many trapped in homes with flammable cladding unable to move on because of a lack of finance.
It came after a former Bank of England economist warned that the scandal could lead to the next banking crisis if leaseholders are forced to pay for
