The G15 responds to draft RICS valuation guidance on properties with cladding

The G15 welcomes the RICS draft guidance on the valuation of properties in multi-storey, multi-occupancy residential buildings with cladding. The aim of which is to arrive at a consistent application of the EWS1 form that will help leaseholders sell their home or remortgage the property.

Lenders’ and valuers’ requirement for EWS1 forms has created a bottleneck whereby a finite group of specialists are required to provide on safety remedial works for a vast number of homes. We believe this guidance is a great step forward. It refines the buildings in scope of the EWS1 regime back to what was originally intended, which could allow prioritisation for the most urgent buildings while delivering a more fluid housing market for other leasehold homes.

All G15 member organisations are treating safety as their foremost priority and are working through the remedial works necessary to keep residents safe. But this is a challenge that will take many years to complete, and leaseholders should not be trapped in homes they are unable to sell for that time.