In response to the Grenfell tragedy in 2017, the government gave advise on the need to inspect the external wall systems in multi-occupancy buildings to establish whether the materials used were combustible or not. This directive affected flat buyers and lenders, necessitating scrutiny for combustible materials and defects, leading to potential remediation and implications for property values, risking unforeseen costs and unaffordable mortgages.

 

In December 2019, a collaborative effort brought together a cross-party group, including fire engineers, lenders, insurers, valuers, and industry representatives. Their goal was to develop an efficient process, resulting in the creation of the EWS1 (External Wall System) process. This aimed to provide a transparent evaluation of a property's lending suitability, addressing market slowdowns caused by the absence of a streamlined information system.

 

While the majority of buildings below 18 meters don't require the EWS1 process, around 5 to 6% may trigger its application. This process, initiated by building owners when the wall system composition is unknown, ensures safety and mortgage eligibility. The EWS1 process eliminates surprises, safeguarding customers and enabling affordable mortgages. Some lenders ask for an EWS1 form irrespective of height of the building and we are happy to work with owners and buyers to achieve this.

 

Activation of the EWS1 process involves a qualified professional conducting a fire-risk assessment on the external wall system. Upon completion, the professional signs an EWS1 form, valid for the entire building for five years, contributing to property safety, mortgage eligibility, and market value transparency.

 

 

 

EWS1 forms

 

It's a concise document streamlining the lending decision process for financial institutions. Tailored for residential properties, the form confirms an expert assessment of the external wall system's safety, adhering to government guidelines. Not a life safety certificate, it assists in assessing remediation costs' impact on property value. Under current guidelines, only a small percentage of buildings necessitate an EWS1 form, with flexibility in criteria. Valuers, aligned with lenders, must follow instructions. The EWS1 form is temporary, with the Fire Safety Act 2021 mandating fire risk assessments for all multi-occupancy buildings, ensuring property safety.

 

Call: 07968 834455 or

email: ray@phoenixexecutive.co.uk

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In response to the Grenfell tragedy in 2017, the government gave advise on the need to inspect the external wall systems in multi-occupancy buildings to establish whether the materials used were combustible or not. This directive affected flat buyers and lenders, necessitating scrutiny for combustible materials and defects, leading to potential remediation and implications for property values, risking unforeseen costs and unaffordable mortgages.

 

In December 2019, a collaborative effort brought together a cross-party group, including fire engineers, lenders, insurers, valuers, and industry representatives. Their goal was to develop an efficient process, resulting in the creation of the EWS1 (External Wall System) process. This aimed to provide a transparent evaluation of a property's lending suitability, addressing market slowdowns caused by the absence of a streamlined information system.

 

While the majority of buildings below 18 meters don't require the EWS1 process, around 5 to 6% may trigger its application. This process, initiated by building owners when the wall system composition is unknown, ensures safety and mortgage eligibility. The EWS1 process eliminates surprises, safeguarding customers and enabling affordable mortgages. Some lenders ask for an EWS1 form irrespective of height of the building and we are happy to work with owners and buyers to achieve this.

 

Activation of the EWS1 process involves a qualified professional conducting a fire-risk assessment on the external wall system. Upon completion, the professional signs an EWS1 form, valid for the entire building for five years, contributing to property safety, mortgage eligibility, and market value transparency.

 

 

 

EWS1 forms

 

It's a concise document streamlining the lending decision process for financial institutions. Tailored for residential properties, the form confirms an expert assessment of the external wall system's safety, adhering to government guidelines. Not a life safety certificate, it assists in assessing remediation costs' impact on property value. Under current guidelines, only a small percentage of buildings necessitate an EWS1 form, with flexibility in criteria. Valuers, aligned with lenders, must follow instructions. The EWS1 form is temporary, with the Fire Safety Act 2021 mandating fire risk assessments for all multi-occupancy buildings, ensuring property safety.

 

Call: 07968 834455

or email: ray@phoenixexecutive.co.uk