Q&A - Do I need a specialist valuation to remortgage my apartment?


I want to remortgage my apartment but have been told I need a specialist valuation on the apartment building first as the building appears to have external cladding. 

Is this correct and how much do these valuations usually cost? Any advice would be much appreciated. 



Mortgage companies often request an EWS1 form before offering to lend on a property within a block of apartments where there is external cladding.

An EWS1 form will provide the lender with an understanding of whether or not there is risk of fire spread due to the materials found on the external wall. To provide an EWS1 form, you will require a competent person to undertake a full intrusive survey of the entire building, to ascertain all materials within the through wall construction, and how the materials will behave should there ever be a fire. Depending on the outcome of the survey, the EWS1 form will advise if remediation is required, or if the risk is suitably low the lender should gain some comfort in providing a mortgage for properties within the block.

In the first instance, I would recommend you liaise with your Managing Agent, or Freeholder to ascertain if such a survey has already been undertaken, or if an EWS1 form for the building already exists. If it does not, please do ask them to reach out to us for a fee proposal to undertake the necessary investigations and provide an EWS1 form. FRC undertake all aspects of the thorough FRAEW surveys, and fees can vary greatly due to many variables such as mechanical access equipment and licences should they be required.

Nicky Stamp, Sales Director at FR Consultants Ltd

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