Market Forces and Malpractice
James Meek: The Housing Crisis, 4 July 2024
“... enough to trigger compulsory evacuation, he wouldn’t be able to sell up in the normal way; no lender will offer a mortgage on his flat. Only cash buyers will buy unremediated flats, and they can force desperate owners to sell at a big loss. But Morris still has to pay his mortgage. ‘If you add the service charge,’ he said, ‘I’m paying upwards ... ”