ARMA response to cladding confusion for leaseholders
In December 2018, the Government issued Advice Note 14 (AN14) for anyone responsible for, or advising on, the fire safety of external wall cladding systems on residential buildings over 18m in height that do not incorporate Aluminium Composite Material (ACM), such as that found in Grenfell. The emphasis was on combustible systems such as wood and High-Pressure Laminate (HPL) installations. Although only an Advice Note this document is causing issues in the sale and re-mortgage of leasehold flats in affected buildings as some valuers are returning a £0 value on flats, thereby holding up sales.
ARMA (the Association of Residential Managing Agents) has been very active on the matter, taking the issue up with the Prime Minister’s Special Adviser, MP’s and the Ministry for Housing, Communities and Local Government (MHCLG). It is a member of the cross industry working group on valuations set up by RICS to address the matter.