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Homeowners Forced in to Major Debt
Hackney Council could be forcing some 8,000 resident households into insurmountable debt by enforcing charges of tens of thousands of pounds each time ‘Major Work’ is carried out to a council owned block or estate.
Charges are issued to Hackney leaseholders and freeholders regardless of income or ability to pay, forcing many thousands of residents into extreme debt. There are no caps on the amount that residents can be charged. There are no caps on the number of Major Works that can be undertaken at any one time. Often the Major Works are being delivered under the umbrella of the Decent Homes programme, that a private landlord would not be able to claim as ‘necessary’ work. Hackney Homes Ltd (the Arms Length Management Organization - ALMO for short) were unwilling to disclose how many Hackney residents had in the past lost their properties due to ‘Major Works’ debts but admitted it was possible.
When ‘The Right To Buy’ was introduced in the early 80’s, thousands of residents used their life savings and took on hefty mortgages in order to fulfil the dream of owning their own homes. Their aim was to provide a safe and secure future for themselves and their families. Now Hackney Council could be bankrupting leaseholders and their families with ‘Major Works’ charges escalating into tens of thousands of pounds.
There are 8,000 lease and freeholder properties in Hackney run by Hackney Homes Ltd, the Managing Agent for Hackney Council. Many of these homeowners are already struggling to live on a low income or a meagre pension, but are still being hit with charges that even highly paid professionals would struggle to repay. These charges come with a short repayment deadline of five years (recently extended from 2 years) and with hefty interest charges on top.
Hackney Homes Ltd boasts that “Hackney’s Decent Homes programme is winning awards”. Behind the scenes of the Decent Homes programmes, thousands of Hackney residents’ lives are being turned upside down. The biggest irony of all would be if by forcing homeowners out of their homes, Hackney ends up being responsible for housing these families as rent paying tenants!
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