Further to our discussion re Grenfell at the recent London Board Meeting this has been released today.
You’ll all have been aware of the issue we’ve had in the market of valuers having to provide zero valuations on flats in high rise blocks with unidentifiable cladding. This is something that has come up at a number of recent regional boards over the last few months.
We’ve been working with key stakeholders within the market, including UK Finance and the Building Societies Association as well as the insurance industry and fire engineers, and after much hard work are able to announce today a new process to get the market going again. This is the new External Wall Fire Review process which will require a fire safety assessment to be conducted by a suitably qualified and competent professional delivering assurance for lenders, valuers, residents, buyers and sellers. The Review has been developed through extensive consultation with a wide range of stakeholders. Only one assessment will be needed for each building and this will be valid for five years. The process is delivered through the EWS1 form HERE.
This process has also been agreed with the relevant government department – Ministry of Housing, Communities and Local Government (MHCLG) who are very appreciative of the work we have done to lead industry to a workable solution.
Comms are going out to our members in the form of dedicated emails to all valuers and building surveyors in the first instance followed by updates to our wider membership