Is it worth doing homebuyer survey on a 20-year-old one-bed flat, Also EWS1 Form Issue

propertyhunter

It's exactly what my management company said to me when I asked whether my old block needed a EWS1. Basically, there's no legal requirement since the building is <18 m in height, but that doesn't stop lenders for asking for one. Therefore, a letter such as the one you've shared is meaningless to banks right now. They aren't listening to government advice, and sometimes they aren't even listening to RICS but some are. 

This is the RICS guidance: 
https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/valuation/valuation-of-properties-in-multi-storey-multi-occupancy-residential-buildings-with-cladding.pdf

Check to see whether you think your flat is affected - the case studies are helpful to providing context. 

The issue for you is whether the flat will be a future liability or asset. Do the surveys and as much investigation as you can do now to be as informed as you can be. Then reflect on the evidence in front of you and decide whether you want to proceed, or if it's not for you, put it to one side and find a freehold house. 

IamWood

Thank you @propertyhunter. You are so helpful!

Called the management company and asked a couple of stupid questions. They refused to give me exact answers instead of repeating 'there is no planned work on the building and EWS1 is not applicable'. They did mention though there is no cladding for the block and the inner layer of the wall is made of concrete blocks.

propertyhunter

No problem - happy to help.

It doesn't look like a high-risk building (but as I said that means nothing). It's also reassuring that the management company are actually responsive on the matter and are happy to provide documentation. You've done as much as you can. Get the solicitor and surveyor to take it on from here. 

IamWood

My estate agency just forwarded me a "Health Safety & Fire Risk Assessment" report carried out by "4Site Consulting Limited" for the flat I'm interested in. Is this the same thing as the ESW1 form?

Thanks.

propertyhunter

No it's not. Your solicitor should be able to advise you and interpret the FRA for you and its implications.

Anyway, now that Gove had made his announcement, any cladding remediation costs are likely to be met by the developer/freeholder or government (not the leaseholder anyway). I would make sure you don't have onerous ground rent terms or extortionate service charges. 

The announcement by Gove will not mean costs for other fire safety measures will be paid for, but there is an implication that they will be in future (apparently). Check things like cavity barriers etc. in the documents that the managing agent has shared. 

K_S

@iamwood It looks like there have been regular sales in the block since Grenfell including 4 in the last two years. Plus a quick look at some of the archived listings for these sales don't show any sign of the dreaded 'cash-buyer only' or 'investor-only' phrases.

In all, doesn't look like a block which has EWS1 issues.