In April to June 2023, an EWS1 form or equivalent was required by lenders for 10% of mortgage valuations for flats in the UK, new data from the Department for Levelling Up, Housing & Communities (DLUHC) has revealed.
This figure marks a 2% increase on the 8% recorded from January to March 2023.
Data received by DLUHC, provided by six mortgage lenders, shows that the majority of mortgage valuations for flats do not require an EWS1 form or equivalent.
In Q2 this year, there were 43,000 mortgage valuations for flats by these lenders, with EWS1 forms or equivalent being required in one in 10 cases.
Four mortgage lenders who provided height breakdown information to the DLUHC has shown that height is a key factor in whether an EWS1 form or equivalent is required.
62% of mortgage valuations for flats in buildings seven storeys and above required an EWS1 form or equivalent during the quarter, an increase from 53% in Q1 of this year.
Flats in mid-rise buildings (five to six storeys), required an EWS1 form or equivalent in 32% of valuations during Q2, an increase from 28% recorded previously.
Flats in the lowest-rise buildings (one to four storeys) required an EWS1 form or equivalent in 2% of mortgage valuations during April to June 2023, the same as in January to March.
