HOMEOWNERS have been left fuming after builders left their estate unfinished, causing their house prices to plummet.
Residents of Thomas Cox Wharf estate, Birmingham are now stranded after the developer went bust before it was able to fix-up the eyesore area.
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The family neighbourhood has been left covered with potholes and raised ironworks, while locals are panicking as their house prices continue to collapse.
Furious homeowners now say they are stuck in “no-man’s land,” with no guarantees the roads will ever be properly surfaced or the sewers maintained.
The residents have even been warned that one of their only remaining options is to pay for the work themselves, something they have slammed as “unfair”.
Despite developers typically leaving funds available if they go into liquidation, the families instead learned that builders Aurora Living and Mar City failed to leave a pot of cash when they went bust.
Sandwell Council claimed they tried to get the firms to agree to leave the money, but the property fiasco has meant residents are now left to fend for themselves.
The council added that they are reluctant to use taxpayers’ cash to finish the work, meaning locals have no idea if their estate will ever be finished.
The road now has the unenviable reputation of being practically un-driveable due to potholes and raised ironworks causing havoc to motorists driving through the family neighbourhood.
The unfinished work has also meant rainwater pools next to raised kerbs, as the drains aren’t level with the unsurfaced road.
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Despite facing these issues on a daily basis, locals have said their biggest concern is the impact it will have on the value of their homes.
Mum-of-one Aman Khan told Birmingham Live: “We’re not saying we want to take money off taxpayers, we understand the money is not usually for this but we want to see what funds can be released.
“This part of the road is closed ownership. We’re paying council tax for a reason.
“We’re paying but for what, just to have the bins collected? A few months ago the lights went out completely.”
Neighbour Mickey said: “The initial value of the house was just over £200,000 but because of the road and no guarantee it is going to be finished we will struggle probably to get £175,000.
“We went into a new-build because you get guarantees and Help to Buy because of the incentives but the value is just dropping.”
Residents are now calling on authorities to help them out of the “unfair” situation.
Aman, who has lived on the estate for four years, said: “We’re asking for some sort of assistance from the Government. We’ve saved up a deposit, we’ve done the ISA for a new-build.
We’re literally at the end of our tether. When the kids are playing out we’re watching them because the roads are unsafe
Aman Khan
Dad Mickey said: “We’ve been let down by the Government.
“Me and my partner went with Help to Buy because of the incentives of a new-build.
“If we buy a new-build house and we’re not being protected why should we pay back the money we borrowed from you?
“You are essentially tricking us into buying something so you can increase your interest rates.
“It’s already hard enough to get onto the property ladder without having to worry about problems.
“If there is no guarantee of it being finished, people aren’t going to want to buy the house.”
Sandwell Council said: “It is a requirement for all developers to enter into highway agreements should they wish to offer their roads and footways for adoption, and the council has no powers to ‘force’ developers to enter into these agreements.
“Mar City/Aurora Living chose to build and retain the estate roads as private roads, and did not enter into the necessary agreements that would have ensured construction to public highway standards.
“Consequently, the roads have no other status than private roads, have not been constructed to public highway standards and contain sewers that have not been adopted as public sewers by Severn Trent Water.
“The council does recognise the impact on homeowners as a result of Mar City/Aurora Living going into administration.”
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