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New Guidance for leaseholders to sell 5-6 storey homes

The Royal Institution of Chartered Surveyors (RICS) has published new guidance aimed at the number of buildings that require external wall system (EWS) fire safety checks, in a bid to unstick large parts of the flat sale market.

They say that buildings of 5-6 storeys high do not need to be checked if they do not have ACM, MCM or HPL present, and if the cladding that is present on the block covers less than 25% of the building.

These buildings must also not contain balconies that are stacked vertically or have decking constructed with combustible materials, such as timber.

The guidance is published after consultation  with valuers, leaseholders, lenders, fire safety experts and government. RICS is now working to ensure that stakeholders fully implement the new guidance by 5 April.

RICS took the action after flat sales halted as a result of f lenders refusing to issue mortgages on multi-occupancy buildings without the seller providing an external wall system safety form to prove a check has been carried out.

Here is the link to the RICS website:

Here is a useful summary for leaseholders from Inside Housing magazine:

The EWS process