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Housing secretary meeting lenders to agree on high-rise valuations

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  • 02/04/2020
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Housing secretary meeting lenders to agree on high-rise valuations
Housing secretary Robert Jenrick is to hold a roundtable discussion with mortgage lenders to agree an approach to mortgage valuations for properties in buildings under 18 metres tall.

 

The Ministry of Housing, Communities and Local Government (MHCLG) said this would provide certainty for owners affected by vital building work, including the removal of unsafe cladding. 

The housing industry is also in the process of designing a website so lenders and leaseholders can gain a clearer idea of the information needed to go forward with sales and remortgages. 

MHCLG also laid out its “ambitious” plans to reform to the building safety system, including mandatory sprinklers and consistent wayfinding signs in high-rise properties taller than 11 metres. 

Jenrick said: “The government is bringing about the biggest change in building safety for a generation. Building safety is a priority and the government is supporting industry in ensuring homes are safe at this difficult time.” 

 

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