From £1,300 to more than £3,000 per flat – that is the annual insurance cost reportedly looming on the horizon for owners at phases one to three of Glasgow property Lancefield Quay.
According to The Times, at least part of the building is fitted with highly combustible cladding – something the residents did not know until they commissioned an external wall fire review. It was reported that the cladding issue was not disclosed during an earlier inventory by the Scottish government.
With the now-revealed safety defect, the Finnieston-based homeowners are having trouble getting appropriate and affordable coverage. According to the publication, housebuilder Miller Homes will have to carry out its own inspection.
“It is essential to obtain a definitive answer on the combustibility of materials used in the construction of Lancefield Quay, with the two key avenues being the Miller [Homes] survey and/or comprehensive fire testing,” The Times quoted an insurance broker as saying.
Meanwhile Miller Homes has offered assurances that it is working with all relevant parties to find an acceptable solution for the residents.