I am grateful to the hon. Gentleman for giving way again and for mentioning the problem at Northpoint. There is a certain insecurity about the risk of human error at the very least with a waking watch, but the difficulty is compounded by the cash flow impact. Most of these leaseholder groups will have a sinking fund that has been set up over the years, but that is quickly dissipated by the cost of the waking watch. In the case of my constituents, there is an enforcement notice running out in April. They could have the waking watch until then, which will exhaust all the reserves and will mean further calls on funds from people who often have mortgages, because they are often first-time buyers, and who effectively cannot raise any more money because the flats are currently valueless. It is a Catch-22: the money is exhausted, and they have no means of raising any more.
Fire Safety and Cladding
Proceeding contribution from
Robert Neill
(Conservative)
in the House of Commons on Wednesday, 23 January 2019.
It occurred during Adjournment debate on Fire Safety and Cladding.
Type
Proceeding contribution
Reference
653 c298 
Session
2017-19
Chamber / Committee
House of Commons chamber
Subjects
Librarians' tools
Timestamp
2019-01-25 13:58:49 +0000
URI
http://hansard.intranet.data.parliament.uk/Commons/2019-01-23/19012339001210
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