Valuing buildings with cladding-case studies

Buyers and sellers of flats have historically been facing significant delays due in part, to uncertainty surrounding the financial responsibility of the remediation for combustible cladding for multistorey buildings.

RICS Standards and Regulation Board (SRB) published new guidance which came into effect immediately on 6 Dec 2022, as part of RICS’ continued efforts to create clarity in the public interest to support lending on flats in buildings with cladding and providing confidence to the market. The guidance supports RICS valuers to apply a consistent and transparent approach in undertaking valuations for mortgage purposes on domestic residential blocks of flats. The approach also guides valuers on how to take into account any agreed remediation funding and timelines when forming their objective opinion of value on properties in blocks of flats with cladding.

6 months on from implementation, what are the lessons learned from the practical application of the guidance?

Join the webinar, to hear the experience of practitioners, lender clients and also a representative from Department of Levelling Up Housing and Communities (‘DLUHC’).

• The experience of valuation best practice from the application of the criteria.
  
• How has lender policy evolved in light of the guidance?
  
• Developments in related government policy since publication.