In December we issued an update to announce that the big six lenders would start accepting mortgage applications in respect of flats subject to building safety remediation works from 9^th January 2023. The update set out how the applications process would be expected to work, based on guidance from the Department for Levelling Up, Housing and Communities (DLUHC), RICS, BSA and UK Finance.

However, we have since heard reports of brokers being asked to provide EWS1 forms (which parts of the market have now retired) and other documentation deemed unnecessary by DLUHC and industry bodies. If you have tried to assist a client who is selling, remortgaging or purchasing a flat with a history of building safety issues via the big six and have encountered onerous or unrealistic lender expectations, please get in touch so we can share this information with DLUHC, who are working with industry groups to open up the market for affected leaseholders.

We will also shortly be issuing a more detailed update in respect of the new obligations on developers to commit to remediate all outstanding building safety issues and a crackdown on unfair buildings insurance sales practices.

In the meantime, if firms or brokers have any further queries, please contact us.