EWS1 B2 - how likely am I to get a mortgage?

LED123

Just that! Builder has confirmed that no cost to leaseholders for repairs but no time scale for them to be done. Will lenders loan? 

LED123

Anyone? Could really do with some help.

Adam16

No. 

Most lenders will not loan at the minute without an EWS1.

The exception is some lenders MAY lend if there are concrete plans & ongoing work (with evidence) to rectify any cladding issues and produce an EWS1 at the end. 

Alderbank

Will lenders loan?

Not from what you have told us, until there is a fully developed plan.

EWS1 is a professional assessment of the building's external cladding. 
There are 5 possible ratings: A1, A2, A3, B1 and B2
A1 is the 'best'. Cladding unlikely to be flammable. No work required.
B2 is the 'worst' unfortunately.

Until recently no-one was lending on A3 or B2 property. 'We Buy Any Flat' will always buy, but at a very low price.
Lenders now will consider lending even on B2 depending on their evaluation of a properly costed and laid out plan.
They might consider lending depending on the plan but the rate of interest and minimum deposit will depend on their assessment of the plan, how realistic and timely it is, the eventual likely fire safety, and the lender's appetite for risk.

How tall is your building? Some lenders have asked for EWS1 when it is not actually required.

user1977

You might be better asking on the Mortgages board, as that's where the brokers tend to hang out.

LED123

Apologies - It's A3 not B2. I don't know if that makes a difference?
Building has 7 floors, it's shared ownership.
I've posted on the. Mortgages board now as well.
Thanks