Couple planning to sell house told its worth ‘zero’
Matt Browne and Lizzie Barnett, a couple from Birmingham, planned to sell their current home to move somewhere bigger but they were shocked when a real estate agent told them that their property was worth zero.
The state agent told the couple that their flat in Birmingham was worth zero because of high-risk Grenfell-style cladding.
Now Matt and Lizzie, 27, face bankruptcy because of crippling repair bills to make their building safe.
“These costs are just unachievable for us and with a flat, we can’t sell we are facing bankruptcy. We wanted to move to a bigger place and start a family but that’s all gone until we can sort this out,” said Matt.
Matt and Lizzie aren’t the only unfortunate people whole hames have been declared worthless due to the Grenfell incident.
According to reports, at least 1.5 million leaseholders have had their homes declared worthless due to the Grenfell fire incident.
In construction, Cladding is generally used as wrapping around a building to improve the appearance and provide thermal insulation.
Grenfell Tower in Kensington, which caught fire in 2017, too was fitted with cladding as part of a £9million refurb. The incident had claimed 72 lives, Times Now News reported.
According to experts, the composite foam sandwich panels helped spread the fire and the cheap material used in the cladding was more flammable than two other available options that were not used.