After the initial problems caused by the EWS1 certification last year, RICS has issued new guidance to try and cut through some of the issues. The guidance has been welcomed by Government with the Rt Hon Robert Jenrick MP talking about it translating to 500,000 apartments no longer needing EWS1 certifications.
When the EWS1 process was announced last year, the intention was to provide certainty for building owners and occupiers as well as lenders and insurers around fire safety of high rise apartment blocks. Instead, it caused all manner of problems because very few professionals were actually insured to provide EWS1 certificates but there was considerably more demand than could be addressed. Even buildings where cladding was not an issue at all were suddenly clambering for EWS1 certification because lenders and insurers were insisting on them. As a result, leaseholders, potential buyers and everyone else involved were effectively being held to ransom unnecessarily.
The criteria set out above will significantly reduce the number of cases where valuers cannot proceed without further investigation and therefore reduce the number of cases where EWS1 certification is required. It should result in a much needed release of the log jam in the apartment sale market at the moment and enable a lot of leaseholders to move forward with sale or remortgaging of their properties during the current stamp duty window.