Is RICS new EWS1 guidance working?

NameUnavailable

katie91_2 said:

For reference, we are currently in the process of selling a flat in a 200+ year old grade II listed mill building without any cladding in sight; our buyers mortgage company still requested the EWS1. I would say the RICS guidance makes little difference.

Hi, out of interest how many storeys is the building? Any balconies?

Crashy_Time

NameUnavailable said:

I've been reading up on the latest guidance and there was a piece about it on Radio 4 last Saturday. Still seems that the reality is surveyors and lenders are passing the buck between them as to who is responsible for requesting EWS sign off.

I'm offering on a brick built (late 60's) flat in a 3/4 storey block, no cladding, no balconies. It should be totally exempt from requirement for EWS1. If it's not I will pull out regardless.

Best move.

Mr_owl

NameUnavailable said:

I've been reading up on the latest guidance and there was a piece about it on Radio 4 last Saturday. Still seems that the reality is surveyors and lenders are passing the buck between them as to who is responsible for requesting EWS sign off.

I'm offering on a brick built (late 60's) flat in a 3/4 storey block, no cladding, no balconies. It should be totally exempt from requirement for EWS1. If it's not I will pull out regardless.

I am in the same situation although I am buying in even smaller building. I have requested some information from solicitors but they claim they are unable to advise and if I have concerns I can arrange a survey but normal house buyer survey will not tell if a property needs ews1 form or not. I am going to wait what the bank is going to say and if they want to mess about ews1 from I am pulling out too.

katie91_2

NameUnavailable said:

katie91_2 said:

For reference, we are currently in the process of selling a flat in a 200+ year old grade II listed mill building without any cladding in sight; our buyers mortgage company still requested the EWS1. I would say the RICS guidance makes little difference.

Hi, out of interest how many storeys is the building? Any balconies?

The mill has 4 ‘habitable’ floors and a single floor underground car park, no balconies either.

NameUnavailable

Mr_owl said:

NameUnavailable said:

I've been reading up on the latest guidance and there was a piece about it on Radio 4 last Saturday. Still seems that the reality is surveyors and lenders are passing the buck between them as to who is responsible for requesting EWS sign off.

I'm offering on a brick built (late 60's) flat in a 3/4 storey block, no cladding, no balconies. It should be totally exempt from requirement for EWS1. If it's not I will pull out regardless.

I am in the same situation although I am buying in even smaller building. I have requested some information from solicitors but they claim they are unable to advise and if I have concerns I can arrange a survey but normal house buyer survey will not tell if a property needs ews1 form or not. I am going to wait what the bank is going to say and if they want to mess about ews1 from I am pulling out too.

I don't think the solicitor can help you, it's totally down to whether or not the lender requests the EWS form. It's a crazy situation. Even if it isn't requested, there's the risk it will be when we come to sell, although one would hope that this matter will be resolved in a year or two (meaning acceptance of what should/shouldn't be considered a risk).

Mr_owl

NameUnavailable said:

Mr_owl said:

NameUnavailable said:

I've been reading up on the latest guidance and there was a piece about it on Radio 4 last Saturday. Still seems that the reality is surveyors and lenders are passing the buck between them as to who is responsible for requesting EWS sign off.

I'm offering on a brick built (late 60's) flat in a 3/4 storey block, no cladding, no balconies. It should be totally exempt from requirement for EWS1. If it's not I will pull out regardless.

I am in the same situation although I am buying in even smaller building. I have requested some information from solicitors but they claim they are unable to advise and if I have concerns I can arrange a survey but normal house buyer survey will not tell if a property needs ews1 form or not. I am going to wait what the bank is going to say and if they want to mess about ews1 from I am pulling out too.

I don't think the solicitor can help you, it's totally down to whether or not the lender requests the EWS form. It's a crazy situation. Even if it isn't requested, there's the risk it will be when we come to sell, although one would hope that this matter will be resolved in a year or two (meaning acceptance of what should/shouldn't be considered a risk).

You are completely right. I am intending to spend definitely more than 2-3years. I hope when time will come to sell it will all be long gone and it will sell smoothly for a decent price. However if bank insists on it then I am out until it's all sorted out and banks are more relaxed.