No EWS1 for buildings under 18m
Great news for hundreds of thousands of leaseholders who are now released from the cladding trap.
The Government have changed the rules on EWS1 forms so that buildings under 18m no longer require one.
They have struck a deal with the major banks who have said they will now lend without requiring an EWS1 on buildings under 18m.
For buildings under 18m which still require remediation the Government said that they would release details of their loan scheme in due course. This scheme is designed to ensure leaseholders pay no more than £50 per month if their building needs remediation. No details on how or who will administer the scheme have been announced.
If this does come to fruition it will give hope to yet to more leaseholders who are stuck in the cladding trap.
below is a link to the official government announcement.
Major intervention from government and lenders to support leaseholders – GOV.UK (www.gov.uk)