Since last January thousands of UK residents have discovered that they are unable to sell or remortgage their properties due to lenders’ demand for an External Wall Fire Review (EWS1 Form).
Even though the EWS1 was intended for buildings over 18m or with combustible cladding, lenders have been asking for this form on a much wider scale.
There are many reports of leaseholders in buildings under 18m and with no cladding who are left with a £0 valuation and therefore find themselves unable to sell or remortgage their property until an external wall test is completed.
Only the freeholder is allowed to procure this certification, and there is a long queue (potentially years) for these surveys.
Metropolitan have confirmed they do not have this certificate for their property portfolio, and they have not yet given a timeline to complete the certification. High rise buildings will be a priority, so low rise buildings will be last.
We are raising this issue with our MP and we are trying to get a timeline estimate from Metropolitan.
If you have had any issues with this, or if you are planning on remortgaging or selling any time soon, please let us know