A homeowner trying to sell his flat said he feels as if he is “behind square one” after a sale fell through due to cladding on the building.
Marcus Ellard, 37, a senior acting tutor at a drama school, lives with his wife in Freesia Lodge on the Kings Park estate in Harold Wood.
Leaseholders in the block were recently told work is needed to upgrade cladding materials on their homes in the wake of the Grenfell Tower disaster, although residents and local MP Julia Lopez are contesting this due to other “identical” blocks on the estate being told otherwise.
Mr Ellard said he and his partner bought their home in 2018 from the developer, Countryside, before it was even completed.
Earlier this year, they decided to put their property on the market, and were lucky enough to find a new home in Gidea Park, which they put a bid on.
When they learned an inspection was due to take place assessing the cladding used on Freesia Lodge, Mr Ellard said they believed it to be a “formality”.
But the report, compiled by Façade Remedial Consultants (FRC), came back indicating remedial work may be necessary, meaning residents are unable to complete a form required when selling on.
Due to this, Mr Ellard said, “the whole chain collapsed”.
While not a legal requirement due to the size of the building, Mr Ellard said it was the buyer’s lenders who were requesting the form.
“They then valued the flat at nothing, and so then don’t give the buyers a mortgage,” he said.
Describing the whole experience as “exhausting”, Mr Ellard added it now seems “extremely unlikely” the couple can move into the Gidea Park home they want to.
“Essentially, we would have to find another buyer super quickly, because the owner of the flat that we want to move into needs to move out,” he said.
“There’s this huge knock-on effect.”
As Freesia Lodge residents continue to push for the report on the block’s cladding to be reviewed, Mr Ellard said selling their home without being able to complete the form is going to be a challenge.
“At the minute it’s up in the air. If we get another buyer in place and they need a mortgage, then their mortgage people will need a form.
“It feels like we are behind square one.”
Countryside was approached for comment.
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