HS2 Compensation – What you Need to Know Now
Safeguarding directions have now been made, which is predominantly connected to planning applications and possible development near the proposed railway BUT also has the effect that statutory blight provisions come into force.
This means property owners affected can now compel the company to purchase their property and seek compensation.
All or part of your property must be required for the railway and be identified within the safeguarded area on the safeguarding plans.
Owner occupiers of houses are eligible to serve a Blight Notice compelling HS2 to acquire your home. (Commercial properties up to an annual rateable value of £34,800 are also eligible, as are agricultural units which include a dwelling).
If a Blight Notice is accepted the compensation will be the value of the property, ignoring any blighting effects of HS2, a home loss payment of 10% of the unaffected value up to a maximum of £47,000 and removal costs, stamp duty, surveyors fees, legal costs etc.
If you wish to move, a Blight Notice should be served as soon as possible because the safeguarded area could be reduced ( for example as a result of more detailed engineering considerations) and you could lose the ability to force the acquisition and have to wait until HS2 is operational to pursue a claim for noise/vibration etc.
We have already submitted Blight Notices for a number of our clients –who have particularly pressing needs and we will be urging HS2 to deal with these as priority cases.
Our costs for negotiating a fair and comprehensive compensation package are paid by HS2 and this means you can have your claim dealt with by RICS regulated Chartered Surveyors and there will be no costs whatsoever payable by you, for this service.
Our advice is that you need to decide quickly whether you wish to pursue the Blight Notice procedure and compel HS2 to acquire your property now or you wait until it is actually required for construction of the railway. (As above there is the danger HS2’s property /land requirements may reduce and you are left close to the railway but with no land taken and you lose all the additional compensation which comes with a Blight Notice).
Timely, impartial professional advice is only a telephone call or email away so do not hesitate to contact us so we can advise as to the best way forward for your particular circumstances. For more detailed information and FAQs please visit our HS2 compensation claims dedicated website.