Understanding EWS1: Navigating Mortgage Lending Criteria for UK Buildings
EWS1 refers to the External Wall Fire Review, which was introduced in the UK following the Grenfell Tower fire in 2017. It is a certificate that verifies the safety of the external walls of a building, and is required by some mortgage lenders as part of their lending criteria.
However, not all mortgage lenders in the UK require an EWS1 certificate, and there are some lenders who will allow a mortgage to be taken out without one. Some of these lenders are specialist or niche providers, who may take a more flexible approach to lending criteria and are willing to take on higher levels of risk.
It is important to note that if a building does not have an EWS1 certificate and a lender is willing to provide a mortgage without one, the value of the property may be impacted and it may be more difficult to sell in the future.
If you are looking to take out a mortgage and your building does not have an EWS1 certificate, it is recommended that you speak to a mortgage advisor who can help you find a lender who will allow this. They can also advise you on the potential impact this may have on your mortgage and the value of your property.