RICS consultation on EWS1 form (guidance for valuers)

The requirements for an EWS1 form are rapidly changing; in November we reported that forms were no longer required for buildings which did not have cladding. New proposals from RICS could potentially see many more buildings taken out of scope. RICS has launched a public consultation on guidance called "Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding".  The intention is to help by setting out a consistent position for valuers carrying out mortgage valuations on when EWS1 forms should be requested for buildings with cladding, before valuing a property, to avoid unnecessary delays. The press release from RICS (here) includes more detail on the criteria proposed, and contributions are welcome from all. You can find the consultation here

This article from Mortgage Solutions includes a summary of the proposals and comments from RICS head of valuation standards Ben Elder, and Joe Arnold, managing director of Arnold & Baldwin Chartered Surveyors. Read here.