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Apartments get stuck

Across Gloucestershire, we are finding that Buyers, Sellers & Remortgage applicants are being hampered in their transaction due to Mortgage Surveyors applying a blanket approach to EWS1 provision upon Apartment blocks no matter how many stories or constructed with or without cladding.

According to RICS, External Wall Fire Reviews are only applicable to buildings over 18m high, equivalent to 6 stories. New legislation brought in at the beginning of the year to prevent further tragedies such as  Grenfell is causing a blockage in the system as Desktop Valuers take an understandably 'belt & braces" approach to the evaluation of  External Wall Structures.

Until 'boots are back on the ground' it looks as though Remortgages and pre lock down transactions have become another area where the Property business has come to a grinding halt.

If the Governments five targets are met by this Sunday, let's hope next week brings a new normal where we can all safely move on with our lives.

Read more at RICS here http://tiny.cc/nl3goz