The Royal Institution of Chartered Surveyors (RICS) has updated guidance on valuations including on buildings with cladding.

The new standard, effective from November 1 this year, sets out when an EWS1 form should be requested during the secured valuation of domestic residential properties, including mixed-use blocks of flats, in multi-storey, multi-occupancy buildings with cladding.

Developed following consultation with experts including fire safety industry professionals, valuers, insurers and lenders, the standard is designed to support a more consistent and proportionate approach to valuation. 

RICS claims it helps valuers identify buildings where cladding or balcony remediation works may materially affect market value or saleability, while reducing unnecessary delays for buyers, sellers and homeowners seeking to remortgage.

The standard clarifies that an EWS1 form should only be requested where there is a clear rationale. 

It sets out proportionate criteria based on building height, visible cladding, curtain wall glazing and certain balcony configurations, including different thresholds for buildings over six storeys, buildings of five or six storeys, and buildings of four storeys or fewer.

RICS also emphasises that the EWS1 form is intended for valuation and lending purposes only. It is not a fire safety certificate and does not replace a professional life safety fire risk assessment. 

The standard advises that buyers and legal advisers should seek the building’s fire risk assessment before purchase.

The updated guidance also recognises the role of PAS 9980 Fire Risk Appraisals of External Walls (FRAEW) confirming that, in some circumstances, an appropriate executive summary or summary report from a FRAEW may be relied upon instead of an EWS1 form, provided it gives a clear outcome on whether remedial works are required and is signed by a suitably qualified professional.