High rise apartment buildings that are more that exceeds six storeys in height will be required to pass newly introduced safety inspections before they can be purchased or sold. These new safety requirements have been introduced as a direct response to the uproar that ensued after the disastrous fire that took place in Grenfell Tower in North West London on June 14 2017. The recent new safety requirements saw banks and surveyors lay down plans for a new safety certificate for external walls and other parts of the buildings.

New Certificate

The new certificates will unlock the high-rise apartment property market as many properties were valued at zero after initial safety inspections took place. The Grenfell fire devastated the United Kingdom when 72 people lost their lives in the devastating fire that spread quickly through the building in the summer of 2017.

The new safety checks are not legally required however, they will possibly reveal safety issues that exist in many high rise buildings throughout the United Kingdom. another issue was raised recently regarding who should take responsibility of personal indemnity cover for the professionals that undergo safety inspections.

A recent study revealed that there are significant amounts of flammable material in a well known type of cladding that is not insured by the government’s policy to replace harmful or perilous materials. The government has allocated a 600 million pound budget to dispose of dangerous aluminium cladding, the same cladding used in the construction of Grenfell Tower. Recent government concerns relating to fire safety issues has resulted in surveyors refusing to place any value on high rise apartment blocks. These concerns have dramatically affected the high rise apartment market.

Royal Institution of Chartered Surveyors

Recently John Baguley, the director of tangible assets valuation at the Royal Institution of Chartered Surveyors stated that in order to unlock the high rise property market, it is vital that a fire safety professional should be assigned to carry out a thorough fire safety inspection to include the cladding and inner and outer walls. The fire safety professional should be required to provide a detailed report on the overall safety of the building, this would facilitate the process of unlocking the high rise property market. It was also suggested the high level personal indemnity insurance be provided for the experts who carry out the inspections. Another suggestion has also been raised regarding extending the government policy to replace dangerous cladding to privately owned high rise properties too.

Further questions have also been raised regarding the banks and mortgage lending. The Bank of England advises that banks and lenders should pay close attention to the valuations of the properties that they lend money for.

The new inspection certificates will facilitate the process of property valuation making it easier for owners of high rise properties to sell their properties. Detailed inspections need to take place to ensure that buildings are safe before anyone buys or sells a property. Contact Pro Trainers UK today to assess your fire safety training needs.