Positive news that the RICS have updated their guidance to mortgage valuers, with fewer buildings requiring an EWS1. Time will tell if this has the desired effect on lender behaviour. But hopefully the more tailored approach will help a lot of people, and allow transactions which were stuck to progress.
Valuation of properties in multi-storey, multi occupancy residential buildings with cladding - RICS guidance note March 2021 The Royal Institution of Chartered Surveyors (RICS) today announces a crucial step forward in unlocking the flat market for buyers and sellers. The new guidance Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding, clarifies types of properties which will, and those which will not, require additional inspections, as a result of concerns about fire safety. The guidance is the result of painstaking consultation with valuers, leaseholders, lenders fire safety experts and government.
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