The RICS has published new guidance for Valuers in order to enable Valuers to determine is an EWS1 Form is required on a block or not.
The RICS state that:
‘Following consultation with the fire safety industry, insurers and lenders, it provides criteria that can be used by valuers during a standard valuation inspection to identify buildings where remediation work to cladding for fire safety purposes, that may materially affect the value of the property, is likely to be required.
It is not intended to be, nor should it ever be used as, a substitute for or part of a professional life safety fire risk assessment of any building. The EWS1 form is not a safety certificate and the fact that an EWS1 form is not required for a particular building does not mean that the building may not require some form of remediation in the future.’
This guidance has been issued in conjunction with UK Finance, who represent the 250 largest lenders in the UK.
The guidance is effective as of 5th April 2021, however Lenders and Valuers are being asked to adopt this early.
To download the guidance release and read more about it please follow this link: