If you live in a building of more than 18 metres (around six storeys) which has an external cladding system and/or balconies on the exterior and are thinking of selling your home, remortgaging or buying more shares, please contact us straight away.
Following the tragic events at Grenfell Tower in 2017, there have been changes to Government guidance around fire safety in residential buildings. The safety of our residents is of paramount importance to us and we are supportive of these new guidelines, but this has meant some changes to the checks we need to carry out on our buildings.
As a result of this, mortgage lenders are seeking more detailed information about the construction of the building than was previously required, particularly relating to the external facades of buildings that are 18 meters and over (around six storeys). They now require confirmation from a suitably qualified independent professional advisor that buildings of 18 metres and upwards meet updated requirements before they will issue a mortgage.
Because this is a new requirement, this information may not be immediately available for us to provide. In order to do so it is likely to we will need to carry out professional inspections and surveys. While we are committed to providing all information currently available, please be aware that this may not at this stage be enough to satisfy lenders’ queries. The lack of this information being available is a national issue and not one just affecting buildings owned by Notting Hill Genesis.
If you live in a property more than 18 metres (around six storeys) tall with an external cladding system and/or balconies on its exterior and are thinking of:
- Selling your home,
- Buying more shares in your home (staircasing),
We strongly urge you to contact us before committing to any course of action.