Good news for Leaseholders!
Leaseholders in Havering, Barking & Dagenham have been stuck in their properties unable to sell, all down to their homes not having a satisfactory External Wall Fire Review (EWS1) Certificate.
An EWS1 is a name given to the form required for that the developer or freeholder would issue confirming whether the cladding material meets minimum safety standards or is defective.
Prior to 9th January, when an EWS1 form confirmed the property did not meet minimum safety standards, the property will be deemed unsuitable for mortgage lending and therefore owners were stuck unable to sell and move on.
Thankfully, UK Finance and the top six major mortgage lenders acknowledged the problem and agreed to consider mortgage applications on properties in buildings in Havering, Barking & Dagenham of 11m and over in height subject to evidence being obtained confirming the building will be self-remediated by developers or covered by a recognised government scheme and/or by leaseholder protections contained in the Building Safety Act, as evidenced by a Leaseholder Deed of Certificate and/or Landlord Certificate.
You can download the Leaseholder Deed of Certificate by clicking here
A lifeline for leaseholders
This is welcomed news for leaseholders who have had an EWS1 with A3 or B2 rating.
If you are looking to sell your leasehold property, we will advise you on your EWS1, your Leasehold Deed Certificate and what you need to do to get your property ready for the market.
Speak to our EWS1 specialist Ryan Williams on 07931 229642 or 0208 5919088
