The Royal Institution of Chartered Surveyors (RICS) are keen to engage with conveyancers over proposed guidance proposals in relation to cladding on properties.
RICS has issued proposed guidance (Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding) for public consultation. The guidance “aims to help homebuyers and leaseholders, profoundly impacted by delays in the homebuying market, caused by safety concerns over cladding, and the cost of remediation.”
But RICS is particularly eager to speak to leaseholders, homebuyers and the conveyancers that advise them.
It states that the guidance….”will help by setting out a consistent position for valuers carrying out mortgage valuations, on when EWS1 forms should be requested for buildings with cladding, before valuing a property, to avoid unnecessary delays.
The guidance is primarily to be used by valuers and mortgage lenders, but can also provide clarity for owners/operators of buildings, fire risk assessors and others who are involved in properties with cladding.
The consultation will close on 25 January 2021 with the proposed guidance note due in Spring 2021.
