Following on from the residents meeting which took place on 24th May 2023, we wanted to update you in relation to the common queries that we have received in relation to amendments to the memorandums of agreement that have been sent out to residents.
Works completion date
The memorandums state that NHG will pay ongoing compensation until the remedial works are completed up to a maximum of 18 months from the date of the offer.
NHG are confident that all remedial works can be completed within the 18 month period that has been stated. Once all outstanding works have been completed you will be notified – this is highly likely to be earlier than the 18 month period stated within the memorandum. If (in the very unlikely circumstance) the works take longer than 18 months, NHG will extend the compensation period to the date when the cladding works are complete. If the works were to fail in the future then this agreement would be limited to the date you were notified works were completed – anything after that date would not be covered by the agreement and you would be free to pursue any remedy that you think appropriate.
It is not possible for NHG to have an open-ended memorandum of agreement. Our solicitors have advised us that there must be a cut-off date so we have used the 18 month deadline as a generous cut off date to allow us more than sufficient time to complete the works.
Full and final settlement
The purpose of the agreement is to reach a compromise regarding the ongoing repairs at Stratford Halo. This compromise is intended to be in full and final settlement of any claims for damages that could be brought against Notting Hill Genesis as a result of the ongoing works. Notting Hill Genesis will not enter into any agreement with you unless it is in full and final settlement.
NHG has assessed the impact the works will have on residents carefully. After considering all the circumstances NHG felt that an award of 10% notional deduction of rent for the period people are affected is a fair and reasonable outcome. NHG will not be prepared to amend or increase the amount of the offer.
Internal works to properties
The memorandum does not include any internal works that have been agreed between residents and Notting Hill Genesis but these will be completed within a reasonable period of time. If works have been agreed, NHG are happy to confirm in writing to you what works will be completed internally in your property.
The confidentiality clause will not be amended. It allows you to disclose the contents of your agreement to your immediate family (provided they also comply), HMRC and as required by law (e.g. to your solicitors).
We hope this helps address some of the concerns that were raised at the residents meeting. Should you have individual questions or concerns please feel free to reach out to the team and they will assist.
Finally, we would like to remind everyone that there is absolutely no obligation to enter into this agreement and we recommend that you seek independent legal advice from a solicitor or the Citizens Advice Bureau before entering into the agreement as it will be legally binding on you.