"Official" Thread for all of us waiting for a cladding report...

shau

My old lender used e.surv who want a mhclg statement and will not take our surveyors cladding report. Now my new lender will use sdl but no idea if i will get the same result

lburnett0318

Found someone else in my block sold recently and the buyers mortgage was with Barclays and Survey was countrywide.

shau

Yes i heard countrywide are more lenient

terzinho86

There was industry movement on the issue.

There are news a bit all over the place. In this link there's the actual PDF with the certificate:

https://www.ukfinance.org.uk/policy-and-guidance/reports-publications/external-wall-fire-review

Anneth

Looks like good news for high rise buildings, but no mention of buildings under 18meters. Many of which have also been valued at 0 pending the same certification.

shau

Its seems both above 18m and below 18m needs a surveyor report. Lenders for buildings under 18m may only need the report and not this additional ric form maybe. My valuation was done yesterday for under 18m block lets see if it goes through

lburnett0318

First line of the report says: his form is intended for recording in a consistent manner what assessment has been carried out for the external wall construction of residential apartment buildings where the highest floor is 18m.

terzinho86

Also, what does "the highest floor above 18m" mean? If the floor is below 18 but the roof is above 18, what applies?

auto7audio

Selling a flat building below 18m, the amount of wooden cladding on our building is less than 10% all located on top floor so it's a obvious non-fire risk, plus the building insurance includes fire risk so it's pointless piece of paper for the buyer but I guess common sense does not prevail for banks

Point is sitting with managing agent legal team to determine if they are the ones responsible for that non-legally required certificate which may take weeks at best and more likely months...

I will try to find out name of the bank which requested this and would appreciate if people have actual names as to avoid them buying a flat below 18m building with cladding, maybe this will helps me next time as I might have to find another buyer who is also between the hammer and the anvil... It seems to be a factor of luck but I'm guessing different bank may be more permissive than others

davidmcn

auto7audio wrote: »

plus the building insurance includes fire risk so it's pointless piece of paper for the buyer but I guess common sense does not prevail for banks

The risk to the lender isn't the building burning down without insurance, it's not being able to sell the repossessed property easily and/or at anywhere near its expected value.