To ask the Secretary of State for Housing, Communities and Local Government, with reference to his Department's guidance, Advice for Building Owners of Multi-storey, Multi-occupied Residential Buildings, published in January 2020, what discussions he has had with mortgage lenders on the valuation of properties with potential fire safety issues.
16 November 2020
The January 2020 Advice for Building Owners of Multi-storey, Multi-occupied Residential Buildings, was written for building owners to ensure the safety of their buildings. It was not designed to be used for valuation purposes. The EWS1 process was designed by RICS to address lender concerns about cladding in high-rise residential buildings, but industry has applied it more widely than it was intended. Government does not support a blanket use of EWS1. The Building Safety Minister has met with mortgage lenders seeking their support to a more proportionate approach to valuation of multi storey, multi occupied residential buildings.