CONTENTS – 1 Fundrasing update – 2 Lease review last chance – 3 HELP Ten minutes leafletting please! – 4 Timescale for NB redev – 5 NB blocks with outstandin repairs – 6 Early buy-backs – 7 Res/non-res cut-off date – 8 Lost rental income compensation
- Fundraising update
Thank you so much to the 17 of you who have contributed to legal costs via our GoFundMe campaign which ends Fri 30th April. Unfortunately, with 3 days to go, we have only raised half (£925) of the £2000 that we need for specialist legal review of the key documents relating to the redevelopment.
I will send reminders today to the leaseholders who haven’t yet responded/contributed, and see if anyone responds (we can see who is/isn’t opening our emails!) If we don’t meet our target by Friday (it seems unlikely that we will) we’ll have to have a rethink.
The fastest and most guaranteed option is to double up on the contributions of all of us who have given already, and limit legal information sharing to that group. If you’d be happy to do this, please do go ahead, and we are very likely to hit our goal.
- Another option is to extend the fundraising drive by weeks or months (though this is more work for me that I can’t take on at the moment).
- Alternatively, we could abandon the legal review and go it alone. This is very much a last resort!
- If you have any other fundraising ideas that you would like to put into action yourself, let me know via barnsburyleaseholders@gmail.com
Many thanks, Annie (NB Rep)
- LAST CHANCE to compare your lease against our samples – Fri 30th April deadline
Please see our previous update emails or our blog for information on this.
3. HELP NEEDED – Could you spare 10 minutes to put leaflets through a few doors in your block?
We need volunteers to leaflet the New Barnsbury Leaseholders who aren’t in our group, so we can ensure as many Leaseholders as possible are represented. This is a quick and easy job – there aren’t more than 8 addresses to deliver to (some blocks only one or two) so should only take 10 minutes at the most. Please let Jane know via barnsburyleaseholders@gmail.com if you are happy to help out and she can give you leaflets.
Many thanks! Jane (NB Rep)
- Timescale for NB redevelopment – nothing happening until Spring 2022 EARLIEST
Negotiating the details of the Joint Venture (e.g. Newlon finding funding partners for the NB redevelopment) can take a year easily. Planning will also take at least a year. No redevelopment will happen until Spring 2022 at the earliest.
- Blocks with outstanding repairs – keep detailed records
Are there important works due on your block that will affect the valuation of your flat? Are you worried that Newlon will neglect these in the years before buy-backs? Is there a buildings insurance claim outstanding that Newlon is deliberately delaying (e.g. for subsidence repairs)?
If so, you need to take action to protect the value of your flat:
– Keep thorough records (for example photos, letters, and emails) of the work that needs doing, your attempts to contact Newlon to get the work done, and their responses (or lack of response).
– If Newlon does not respond by carrying out the work, contact the Housing Ombudsman, who will contact Newlon on your behalf: https://www.housing-ombudsman.org.uk/
– Deliberate obstruction or neglect will not lower the value of your property as long as you have evidence that Newlon was aware or the problem and did not carry out their responsibilities.
It is up to you to make sure that this evidence exists, so that surveyors can make sure your flat is valued as if the work had been done.
- More on early buy-backs
Source states that early buy-backs will each be determined by individual circumstances, regardless of when individual blocks are due to be demolished. Newlon will establish a committee with transparent guidelines about what circumstances would qualify for an early buy-back
As far as we know, buy-backs will not be happening until planning is approved, so not before April 2022. Source says lots of people want early buy-backs, so we will continue to ask questions about this and update you when more information is available.
- Not much more on cut-off dates for who is deemed resident/non-resident
At the moment, according to Source, it looks like the cut-off date for residency (and thus the right to shared equity in the new development) is the time of planning permission. We are not clear on whether this is the application date, or the approval date. Also it’s not clear whether the cut-offs will be in line with each phase, or with the initial master plan application.
Either way, Source says as it stands, the cutoff will not be earlier than 12 months after the ballot (so March 2022).
However, Newlon could default to a baseline position, which is residency at the time of the actual ballot, and they could put this in place retrospectively. A strong Residents Association with leaseholders represented will help to put pressure on Newlon in this area.
**Be aware that Newlon will use credit checks, electoral roll, etc. to check residency status and detect fraud and/or unauthorised subletting**
- Lost rental income sure to construction work – keep detailed records
What if you have private tenants, and disruption from construction works means that your rental income goes down or you can’t find tenants?
Source advises that any compensation for this will only happen at the time of your buy-back, and will be assessed according to the evidence that you can provide that you have lost income as a result of the redevelopment.
It is crucial that you keep detailed records of formal rental valuations during the time of the disruption – for example from letting agents – and ask them to make rental valuations with the construction happening vs. without the construction. Also keep records of your attempts to recruit tenants, and for what amount of rent, and keep the tenancy contracts you have had and income that you receive for the duration of the redevelopment.
Unfortunately you will have to manage any loss of income as it happens, and attempt to claim it back during the phase that you are bought out by Newlon. Keith Murray (Compulsory Purchase Valuer) will be able to advise us in more detail as time goes on.
Many thanks from your New Barsnbury Reps
barnsburyleaseholders@gmail.com
Barnsbury Estate Leaseholders Group 