Certificate for valuations - update

Further to our news item ‘Valuation of high-rise properties’, we can now bring you an update relating to a ‘Certificate for valuations’ which is about to be finalised and will hopefully solve the problem for the thousands of people that have been unable to sell or re-mortgage their flats since the introduction of Advice Note 14 at the end of December 2018. This Certificate will enable a valuation and therefore means that a mortgage application can go ahead. The Certificate was initiated by Fiona Haggett, Head of Valuations at Barclays, who involved fire engineers, RICS, UK Finance and the Building Societies Association to bring an industry wide solution to the problem. Once finalised this should free the bottle neck in the marketing of flats and alleviate some of the stress it has caused many flat owners. To find out more about this story, click here.