TSB has changed its criteria so it will lend without an EWS1 form if the flat or block has approved government-backed or developer funding for cladding or external wall system repairs.
The lender said that brokers should inform its application processing team on submission and they can complete “internal checks” to confirm that the property had the required repair funding in place.
This means that external wall system remediation works for the block have been approved for government funding under the Building Safety Fund or Cladding Safety Scheme, or the developer has signed the government contract to cover the cost of repairs.
“There may still be times when further documentation is required, so we’ve also updated the guidance on our criteria pages on the different scenarios of when this may be the case,” TSB said.
The lender said that it cannot proceed if an application has been made for funding but it is not yet approved.
At the tail end of last year, the six largest mortgage lenders agreed to lend on properties needing cladding remediation as long as there is evidence of self-remediation, coverage from government schemes or protections from the Building Safety Act.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
