We rely upon the professional opinion of our valuers to confirm if a property shows the presence of potentially combustible cladding or if there are other fire safety concerns. Should they feel this is the case, they may request an EWS1 form, if there is not one already available for the building. (Please see EWS1 Guidance for information of the requirements)
Where no signs of cladding are present and there are no other concerns, the valuation will proceed without the need of an EWS1 form.
What is Accepted?
Properties that are A1, A2 or B1 rated are acceptable as standard.
Properties in England that are A3 or B2 rated, can be considered where they are eligible under the Government Remediation Scheme and a Leaseholder Deed of Certificate can be provided (see further information below).
Please note that properties rated A3 or B2 may have an impact on the original valuation figure and cannot be appealed
All valuations are still subject to valuers’ comments.
What is not currently Accepted?
A3 or B2 rated properties outside of England (i.e. Scotland, Wales).
A3 or B2 rated properties that are not eligible under the government remediation scheme (i.e. Developer Remediation and properties under 11 metres)
Please note that whilst these types of properties are not currently accepted, this policy is under continuous review
A3 or B2 rated Eligible Buildings - Leaseholder Deed of Certificate
This process will support properties rated A3 or B2 for England only, and the building must be 11 meters or higher.
Leaseholder Deed of Certificate will need to be provided.
Leaseholders in eligible buildings will need to complete and submit a Leaseholder Deeds of Certificate to the building freeholder.
For purchases the Deed of Certificate would need to be obtained from the Vendor.
We will lend based on a new after repairs figure as confirmed by the valuer on an amended valuation report, as it stands today, before the remediation work will be completed.
For further information on Leaseholder Deed of Certificates, please utilise this link.