From Ian Vicary MRICS FISVA, Chairman, ISVA Council
RICS have issued new cladding guidance which, whilst intended for valuers primarily, is of importance to all ISVA members when carrying out surveys and advising clients on potential effects on future resale.
Below you will find an extract from the RICS notification and a link to download the full guidance note and supplementary info paper which we encourage all our members to read and to familiarise themselves with its recommendations.
“… we have launched new guidance to support RICS members valuing multi-storey, multi occupancy residential buildings. The guidance is the result of extensive consultation with valuers, leaseholders, lenders, fire safety experts and government.
The new guidance note, which includes example case studies, will support professionals to make a crucial step in creating clarity and consistency around when an External Wall System (EWS) assessment is required and will prevent delays for homebuyers and sellers. It sets out clear criteria for the types of blocks that should not require an EWS1 form. A supplementary information note on cladding, is also included for you to support your rationale for requiring an EWS1 form.
We anticipate this guidance will result in a reduction of the number of EWS1 form requests and therefore speed up the process for valuers and those involved in buying and selling residential flats. The new guidance is effective from 5 April 2021, but early adoption is encouraged.
The guidance 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 on any building. It has been produced so valuers and lenders can make assessments on buildings with a lower risk of needing remediation work and allow the limited pool of competent experts to focus their assessments on properties where there is a significant risk to the safety of occupants. …”
Whilst I have only briefly studied this guidance document to date, I suspect members will find the flow chart Appendix B: EWS1 form decision tree an easy and helpful point of reference.
The Guidance Note and Supplementary Info paper can be downloaded from this RICS webpage: https://www.rics.org/uk/upholding-professional-standards/sector-standards/valuation/valuation-of-properties-in-multi-storey-multi-occupancy-residential-buildings-with-cladding/