Looking for advice regarding flat purchase and EWS1

System

This discussion was created from comments split from: Which mortgage broker?.

Krikot18

Hi!
Looking for some advice regarding a flat purchase and EWS1 issues.

We are currently in the process of buying a flat and applying for a mortgage with HSBC. The lender has rejected the existing EWS1 report because it was issued by TriFire, and the engineer who signed it has since been suspended by the Institution of Fire Engineers. HSBC have said they will not accept TriFire reports.

The sellers confirmed through the property information form that the old EWS1 is now considered invalid and that a new EWS1 is supposed to be undertaken this year. The expected rating is B1. The building does not have cladding but all flats have wooden balconies, which are expected to be replaced as part of external works.

However, we contacted Prime Property Management, the company that manages the building, and they told us that their directors decided in December not to carry out another survey.

Our lender says they cannot proceed with the mortgage without either:

1) an updated EWS1 report, or  

2) written confirmation that a new EWS1 survey has been instructed.

Our solicitor is contacting the seller’s solicitors to check whether a new report has been issued or arranged.

Has anyone experienced something similar?  

Were you able to proceed with a mortgage without a new EWS1, or did the management company eventually have to arrange one?

Any advice would be greatly appreciated as we’re in a really difficult situation at the moment.

Thanks.

MSE_ForumTeam5

hi @Krikot18 we've split your post to be in a thread of its own. Welcome to the Forum :)

El_Torro

Yes, I have been in a similar situation. The block of flats I live in does not have an EWS1 form and is not expected to have one until the end of 2027. Until then anyone who wants to remortgage will have to do it with a lender who gives mortgages to flats with no EWS1 form. Such lenders do exist, best to find a mortgage broker who can find you one.

Based on what you say it looks like HSBC will not give you a new mortgage offer.

Krikot18

thanks for the advice. We currently use L&C and they are not great, we have to do research and push to actually fight our corner.

We are also trying to speak to Santander as they are known to be more flexible…

sizzlekicks04

As someone who had a flat without an EWS1 i would strongly advise against buying this flat. You may get a mortgage now, but it doesn't guarantee you'll be able to remortgage or sell later. I tried the lenders that day they don't require an EWS1 but actually they can still request one and will. Save yourself the stress and heartache.

It took me two years to finally find a lender who would remortgage and just as long for my buyer to find a lender who would accept without an EWS1. Our housing association refused to get one (Newlon), as they said the form wasn't required for the building, but lenders kept asking one. We were stuck in this doom loop for years and just got lucky