Leaseholders who want to sell, re-mortgage or staircase
In many cases we’re finding that mortgage lenders are asking for EWS1 forms for any transaction, even when the building is less than 18 metres tall. This is causing problems for the leaseholders involved because EWS1 forms are not designed to be used for buildings under 18 metres tall.
Unfortunately, while this situation continues, in many cases it may not be possible for affected leaseholders to re-mortgage, staircase or sell their homes.
This is a nationwide issue which is now affecting thousands of leaseholders. We know this includes some of our own leaseholders, and we are sorry for the upset and frustration that this must cause.
If you are concerned that your ability to re-mortgage, staircase or sell your home might be affected by these changes, we would encourage you to speak to your mortgage broker or financial advisor as not all lenders are taking the same approach and you may find another lender takes a different view.