Leaseholders of flats are understandably concerned that their homes may now be less attractive to buyers and to lenders for mortgages, secured loans and equity release.
BBC News
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image captionPeople in flats with and without cladding have been left unable to move without the safety checks
New guidance has been released aimed at reducing the number of wall safety surveys being requested by banks and building societies on blocks of flats.
Thousands of flat owners have been unable to sell or remortgage because they cannot get the checks done.
The Royal Institute of Chartered Surveyors (RICS) said it would help lenders save time when the inspections were not needed.
Most lenders are likely to follow the advice but there is no guarantee.
Leaseholders are being charged thousands of pounds for forged fire safety certificates needed to prove their homes are safe from dangerous cladding, the Mail can reveal.
More than a thousand homeowners desperate to know if they are living in fire-trap flats have been shocked to discover that crucial reports have been forged or signed off by unqualified engineers.
Experts believe thousands of dodgy investigations are being carried out across the country.
Rogue companies can pocket five-figure fees for the surveys alone – and can then cash in from any work deemed to be necessary.
Around 1.3million private flats are unsellable unless they pass safety tests after guidance issued in the wake of the Grenfell tragedy
AS the world marks International Women s Day today (Monday March 8) a leading developer Barratt Homes is encouraging more women to consider a career in the construction industry. While female construction workers have increased steadily over the past 12 years, the proportion of women in the industry is still significantly lower, something housebuilder Barratt Homes is keen to change. Research figures from the union for construction workers, GMB, showed that if the rate of female employees continues to rise at the rate it is now, women won’t equal men until 2194. Hayley Chilton, from Kingswinford, a senior site manager at one of the housebuilder’s developments in Ledbury, dipped her toe into the housebuilding industry after graduating from the University of Lancaster in 2011 with a BSc in food, nutrition, and dietetics - inspired by growing up with a dad that worked in the construction industry.
The Royal Institution of Chartered Surveyors (RICS) has revealed new guidance relating to cladding.
The guidance will clarify which types of properties will, and will not, require additional inspections due to concerns about fire safety.
The guidance is titled ‘Valuation of properties in multi-storey, multi-occupancy residential buildings with cladding’, and follows consultation with valuers, leaseholders, lenders fire safety experts and government.
RICS will now work with the UK government and other stakeholders to ensure the guidance is implemented by 5 April 2021.
In order to assist consumers, RICS will shortly produce consumer guidance to inform buyers and sellers about the information that might be available to help them understand the risks of a property in a multi-story, multi occupancy building.