More mortgage choice for those affected by building safety issues

Virgin Money, TSB and Skipton Building Society will now consider applications for properties in buildings that are yet to be remediated, or where leaseholders are protected from remediation costs, however, buildings that are excluded from such protections do not benefit.

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Subject to normal requirements, the lenders will consider mortgage applications on properties in buildings in England with building safety issues that are 11 metres or five storeys high and above.

The UK Government says over three-quarters of mortgage lending in England is now covered by the commitment, allowing those looking to buy, sell or remortgage the ability to move on with their lives.

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Restoring confidence in the market

Supported by the Building Societies Association, UK Finance, and RICS (The Royal Institution of Chartered Surveyors), the lenders committed as of 21 December 2023, are:

  • Barclays Bank
  • HSBC
  • Lloyds Banking Group
  • Nationwide Building Society
  • NatWest
  • Santander
  • Skipton Building Society
  • TSB
  • Virgin Money

Lenders will need evidence that buildings will be self-remediated by developers or covered by a recognised UK Government scheme or by leaseholder protections contained in the Building Safety Act, as evidenced by a Leaseholder Deed of Certificate. All mortgage lending, however, is subject to regulatory requirements and individual firms' lending policies.


The Developer Remediation Contracts (11 metres+)

The Cladding Safety Scheme (11 metres+)

The Building Safety Fund (18 metres+ in the Greater London Area only)

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Valuation guidance

The Royal Institution of Chartered Surveyors provides guidance to help valuers value properties with cladding to enable mortgage lending. They continue to support valuers, monitoring the impact of the new guidance to ensure it is proportionate, fit for purpose and helps facilitate mortgage lending while delivering a consistent approach to valuation.