Sell A Lease On Shared Ownership Flat With No EWS1 – We Buy Fast

Do you own a shared ownership flat with cladding problems or other safety issues? Have the remedial works not even started?

Have you been waiting for a resolution to your situation for a long time?

Is your home unsaleable and/or unmortgageable?

Are you trapped in a shared ownership home with a lender’s standard variable rate and can’t remortgage?

Are you unable to move out of your current home, get a new one, or sublet your current one?

Do you have escalating service charge bills you can’t afford?

We would like to hear from you if you have a flat you can’t sell by conventional means like sharetobuy.com.

Concise Finance can help you repay your mortgage and sell your unmortgageable home to a cash buyer who qualifies for shared ownership but does not qualify for a mortgage.

Homes inside the M25 are in particular demand. 

No problems if you have arrears with your rent, service charge or mortgage.

Our buyers are not currently looking for Retirement homes.

Flammable Cladding Flats: Shared Ownership Lease and Rent Issues

The issue of flammable cladding has raised significant concerns for those living in shared-ownership flats. Organisations such as Love Living Homes, Southern Housing, and Hexagon Housing offer various schemes to help individuals get on the property ladder. Still, the presence of unsafe cladding has complicated both lease and rent aspects for residents.

Challenges with Shared Ownership and the Building Safety Act and missing cavity barriers

Providers like Countrywide Shared Ownership, LiveWest, and Sovereign Network Group aim to make homeownership more accessible, but many leaseholders in flats with flammable cladding face difficulties. These issues often involve high remediation costs, affecting shared ownership properties’ rent and lease terms. Companies like SO Resi and The Guinness Partnership are attempting to address these challenges, but resolution can be slow and expensive for residents.

Rent and Lease Implications for blocks of flats with fire safety issues and delayed fire safety works

With organisations such as Orbit Homes, Newlon Living, and Notting Hill Genesis, shared ownership tenants are usually responsible for paying rent on the portion of the home they do not own in addition to their mortgage on the owned share. When cladding issues arise, the property’s value can decrease, and some shared owners with companies like Stonewater and Abri Homes question the fairness of these payments. Rent may remain unchanged despite the devaluation caused by cladding problems.

Flexibility and Support for blocks of flats with dangerous cladding and fire risk with no ews1 forms

Providers such as Places for People and Home Reach Flex offer flexibility through shared ownership, but ongoing issues with cladding have introduced complications that make it harder for residents to fully enjoy the benefits of such schemes. While efforts are being made to address these problems, many leaseholders still face uncertainty regarding their shared ownership agreements, leaving them in a challenging position.

Increased Management Fees and Service Charges Due to Cladding and Unsafe Buildings Fire Safety Works

With the ongoing cladding crisis, many residents have experienced a significant rise in management fees and service charges. Organisations such as Poplar HARCA, L&Q, and St Arthur Homes have increased these fees as remediation efforts for unsafe cladding push costs onto leaseholders. This is causing frustration among tenants who are already dealing with financial strain.

Impact on Shared Ownership and Affordable Homes highlighted from the end of our cladding scandal website and Facebook group

Shared ownership providers like Southern Housing New Homes, NHG Homes, and Domovo have not been immune to the rising costs. For those purchasing properties through affordable schemes with organisations such as Grand Union Living, Aster Group, and Sage Homes, the additional expenses related to cladding have complicated their homeownership experience.

Unexpected Costs for Leaseholders for remediation work that exclude major high street lenders who represent good security

Leaseholders with Legal & General Affordable Homes, Settle, and Hackney Sales face unexpected charges beyond routine maintenance. Cladding remediation efforts often require higher management fees to cover the work. These increased charges make it difficult for residents to budget, especially when unprepared for the sudden cost rise.

Providers and the Ongoing Cladding Crisis for high rise buildings and missing ews1 forms

Property management companies such as We Are Octavia and Urban Moves have been working to manage the situation. However, many leaseholders with providers like LWC Sales and Lettings Limited still struggle to cope with the financial burden. The increased service charges are a direct result of cladding inspections and the need for urgent repairs, leaving residents with few options to mitigate the economic impact.

Mortgage Lenders for Flats and Blocks Without External Wall Fire Review (EWS1)

The absence of an External Wall Fire Review (EWS1) can make securing a mortgage for flats and blocks difficult. Many mortgage lenders hesitate to approve property loans without this certification, which has become critical for buyers and sellers alike. Housing associations such as A2Dominion and Latimer by Clarion Housing Group are working to address these concerns, but the lack of an EWS1 remains a significant barrier in the market.

Challenges for Leaseholders and Buyers for fixing dangerous cladding and the external wall system

For those involved in shared ownership or resales, companies like Sovereign, Home Reach, and Orbit Leasehold have seen delays in property transactions due to the absence of an EWS1. This has left many potential buyers unable to secure financing, creating uncertainty for developers and housing associations. Even firms like Pocket Living and Hyde New Homes have faced challenges in helping buyers complete purchases.

Mortgage Lender Hesitation around fire safety and fire stopping fire doors

Mortgage providers are cautious about properties without an EWS1, as the potential risk associated with external cladding issues is too high. This has affected developments supported by organisations such as Thrive, Your Housing Group, and Site Sales Property Group, where lenders have been unwilling to provide financing without the appropriate documentation. The impact on the market has been profound, leading to stalled sales and a limited pool of buyers.

Resale Market and Developer Response after the fire service investigation and the cross-industry working group

Housing associations’ resale programmes, like Abri Homes Resales and Midland Heart, have been particularly affected. Properties often require additional inspections and documentation before a sale can proceed. Developers such as Persona Homes by Home Group and VIVID are trying to obtain the necessary certifications, but the process can be slow, leaving many flats without financing options.

As a result, the demand for a valid EWS1 form continues to shape the property market, especially in developments managed by housing associations and leasehold providers.

Remortgage Issues and Mortgage Lenders Due to Cladding Scandal

The ongoing cladding scandal has created significant remortgage issues for homeowners, particularly those in flats affected by unsafe cladding. Mortgage lenders have become increasingly hesitant to approve remortgages or new mortgages without proper cladding documentation, leaving many homeowners in difficult financial situations. Housing providers like Paradigm Housing Group and PA Housing have been working to address the issue, but the process remains slow.

Impact on Shared Ownership and New Homes with Fire Safety Defects and without the Fire Risk Appraisal

Shared ownership schemes, such as those offered by Bpha shared ownership sales, Moat Homes Limited, and Wandle New Homes, have seen increased complications due to the cladding crisis. Potential buyers and existing owners are facing remortgage refusals from lenders because of concerns about the safety of external cladding. Even developers like Square Roots and Homemade Homes by Accent are struggling to push forward with sales in affected buildings.

Challenges for Buyers and Sellers and the government agreement on building regulations for combustible cladding and ACM cladding

For buyers looking at new homes from providers like Peabody New Homes, FABRICA, and BeWest, the lack of clarity surrounding cladding inspections and certifications has slowed down the property market. Sellers are finding it difficult to remortgage or secure buyers due to the lack of lender confidence, leaving many trapped in properties that have lost value due to cladding concerns.

Lender Hesitation and Financial Stress after Fire Engineers Building Safety Reports

Mortgage lenders, including those working with firms like Origin Housing and Imagine Living, have placed tighter restrictions on properties with cladding issues. Homeowners seeking to remortgage are being met with demands for cladding safety certificates that many housing associations and developers have yet to provide. This has left a gap in the market, with homeowners unable to remortgage and potentially facing financial stress.

Steps Taken by Property Developers around the building safety crisis and remedial work start delays

Real estate firms like JLL and housing associations like BeWest are trying to resolve cladding issues to restore market confidence. However, for many homeowners, the delay in addressing cladding problems has meant longer waits to remortgage, leading to a stalled property market and ongoing uncertainty for those affected by the cladding scandal.

• The government is looking at the steps to ensure safe external wall systems.
• A residential building fire safety assessment for external wall materials by chartered surveyors could result in multi-occupancy residential buildings being further blacklised
• The government building safety fund may not offer cover for combustible materials.
• The Fire Safety Act external wall system assessments for the cladding external wall system for the entire building must have fire risk appraisals following RICS guidance.
• The building societies association may claim they use the mortgage valuation tool and other government guidelines when it comes to lending for flats in multi-occupied residential buildings, but they can often deny mortgages because of external wall safety even when they don’t want to admit it.

Things you should look out for before buying a shared ownership flat:

• The ews1 form
• The building owners’ approach to external wall construction
• The current fire risk assessment for the building owner fire risk assessment
• The fire break systems life safety certificate
• Evidence of mortgage applications on other flats in the same block (land registry title data)
• The fire risk assessments on the residential properties’ external walls should meet the general fire precautions the qualified professionals and appointed fire engineers expect. The relevant professional body should have approved the chartered surveyors involved.
• The company removing aluminium composite material have appropriate professional indemnity insurance for developer remediation contracts for removing aluminium composite material.

Shared ownership flat mortgage lenders include but are not limited to

• Darlington Intermediaries
• Skipton Building Society
• Stafford Railway Building Society
• The Halifax
• Nationwide Building Society
• Barclays
• Santander
• HSBC
• Leeds Building Society
• Lloyds
• Newbury Building Society
• TSB
• Virgin Money