Join the Residential Landlords Association

Cladding

You are here : Member Forums General Discussion Cladding
Twigs
Twigs
22 Posts
2 Thanks

It would appear that tens of thousands of flat owners are now caught in the double issue of not being able to re mortgage/sell their flats due to the jittery nature of lenders on the issue of probable unsafe cladding on their building. There are only 129 fire engineers able to issue the Certificate of Compliance/Statement of Compliance What are other owners doing and are you aware of this issue?

Arma have issued this: "MHCLG Advice on Building Fire Safety (AN14) and Implications
for Mortgage Providers
Advice to Leaseholders in High Rise Apartment Blocks
Following the tragic events at Grenfell Tower in 2017, there has rightly been an
increased focus on fire safety in high rise buildings (buildings which are over 18
metres in height). Increasingly, this has consequences for landlords and
homeowners, especially when applying for mortgage funding. This briefing note
outlines the background and complexities around current thinking on building fire
safety and explains some measures we are taking." ... Mortgage Lenders and Statement of Compliance
Some mortgage lenders are seeking confirmation that buildings meet all of the
requirements of recent advice notes issued by MHCLG regarding fire safety of highrise buildings. Particular focus is given to AN14, although different lenders are
outlining varying requirements.
For example, some lenders are requiring the production of a written statement to
confirm that the property meets the requirements of current guidance from MHCLG
(a Statement of Compliance). They require that the statement be prepared by a
suitably qualified independent professional advisor who is a member of one of the
professional bodies listed by MHCLG.
Where lenders are requesting this level of information, they will not accept the Fire
Risk Assessments or survey reports. They require the statement of compliance to be
produced by a member of the professional bodies listed at the end of this guidance
note."

10/10/2019 09:00

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

Landlord & Investment Show London Olympia 2019
Residently
99 Homes
John Pye Auctions