Thread by @annesmi29066444

In July this year, at the age of 65, I was so pleased to finally own my modest home, after 47 years of mortgage payments. In August this year, I am taking advice on 40% equity release in my home to help my child pay for building defects on a building they don’t own. 1/6

As a leaseholder they have no choice but to either pay up or become bankrupt. There is no way they have the huge amount of money required lying in bank accounts, they would have bought a better property if they had. Bankruptcy is not an option as their job is highly at risk. 2/6

If I release equity in my home, then as I age and likely need to go into care, the Government will have to fund that as I will have no capital left to pay. Where’s the sense in that? It also leaves me with little to fall back on if my own home requires major repairs. 3/6

My child is fortunate that parental help is available, not everyone has a safety net. Young independent people already trapped in a hopeless situation have the added guilt of feeling they are placing an enormous burden on parents. This is not right, financially or emotionally 4/6

This #BuildingSafetyCrisis is placing an immense mental health strain not only on the leaseholders but on their families too. I bought property so I could retire in relative comfort, this crisis has brought nothing but anguish about money & worry for my child’s mental health. 5/6

@RobertJenrick and @BorisJohnson need to get a grip of this situation, but I fear they just don’t care for the people trapped by their ineptitude. My faith in this UK Government protecting its people has diminished entirely.
#EndOurCladdingScandal
#UKCAG
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