Hello, as a leaseholder for almost 5 years on the estate (Hatfield House) I'm looking to remortgage to stay longer, however all of the lending banks are asking for an "EWS1 Form".
Has anyone managed to (re)mortgage on the estate recently and find a way around this EWS1 Form request?
Or is anyone going through similar issues and we could work together to find a solution?!
Also, the above is a warning for anyone planning to (re)mortgage...it seems difficult to do that or even sell at the moment
Thanks in advance!
*UPDATE FOR ANYONE READING THIS THREAD:* I managed to resolve this in early 2022 by learning that a few lenders aren't as strong the EWS1. Happy to provide more info if you DM me
Hi George - sounds difficult. We managed to remortgage with Santander 2 years ago no problem - maybe we got in before this form was required. Have the Estate Office managed to help? Or the City of London Housing team?
There's a Glera (the residents' association) meeting on Tuesday 9 November where we can all submit common issues that we'd like to see Glera tackle on our behalf. Might be worth attending?
Finally - I see you are in Hatfield House - we have a whatsapp group for the block where we try and find answers to stuff like this - let me know if you would like to join it.
Thanks so much for your replies Lisa and Christine sorry for my slow response (I've been out of town)!
Update: I have managed to push a lender quite hard on this and schedule their valuer to come and confirm that the Hatfield House block has no cladding (let alone any risky cladding) and provide a valuation as standard for any remortgage. Wasn't the easiest things to do, carefully worded emails etc.
Lisa - sorry I missed this, I think it might be useful for me to join a future Glera, to inform other residents of the risk much as anything. When is the next one and how can I join? I'd also like to join the WhatsApp group for Hatfield House, thanks!
Christine - is this requirement being removed for Golden Lane or in the UK in general? A link with information would be much appreciated! My understanding is that the government guidance removed an EWS1 as a requirement for most buildings...but lenders are still asking for it to be annoying/ultra-cautious
Thanks, that's useful. GLE doesn't even have any cladding, let alone flammable cladding! It didn't even exist when the block was built...we just don't have an EWS1 form/survey to prove that
I'd rather not share the lender in public for data/financial security but will message you privately.
I've got a valuer booked to come visit next week (fundamentally they're the gatekeeper for requiring this EWS1 form) for the remortgage and I will update here on the outcome of that
UPDATE: mortgage declined by lender because according to the inspector/valuer we have 7 floors (??) in Hatfield House which is apparently a fire risk because of the questionable post-Grenfell government regulations
This will present difficulties in getting a (re)mortgage for all (future) leaseholders in the short/medium term in Hatfield/Crescent House and potentially other blocks in Golden Lane
oh gosh what a disaster
i think including the basement level it's 7 floors.
Presumably you've seen this Fire Risk Assessment? I havent looked through it yet but hoping it will be helpful:
I've also written to the Corporation. Peabody Estates provide leaseholders with a letter to giove to lenders explaining why an EWS1 form is not needed. I've asked for the same.