Repaying your help to buy loan on a flat with cladding

Understanding EWS1 Ratings and Help to Buy Loans 

The EWS1 form (External Wall System) assesses the safety of cladding on residential flats. A B2 rating indicates unsafe cladding, which can prevent surveyors from producing a specialist valuation needed for: 

• Selling the property 
• Remortgaging 
• Repaying a Help to Buy loan 

Homes England reports that only 18 surveying firms nationwide have been able to produce Help to Buy valuations on flats with an adverse EWS1 rating. Morgan Sloane is proud to be among them. 

Case Study: How We Helped Mr. K 

Mr. K purchased a two-bedroom penthouse flat in Croydon in October 2016 for £460,000. When he decided to sell the property to buy a house, he faced significant challenges: 

• Little buyer interest 
• Successive sales falling through 
• Complications caused by a B2 EWS1 rating 

The adverse rating meant he could not secure a standard valuation. He approached Morgan Sloane to explore repaying his Help to Buy loan and potentially renting out the flat. 

After thorough research, our expert specialist valuers determined that the current value of the flat with unsafe cladding was around £250,000. We produced a compliant Help to Buy specialist valuation, accepted by Homes England, allowing Mr. K to: 

• Repay his Help to Buy loan for a significantly lower sum 
• Gain full ownership of the flat 
• Rent it out or sell it freely in the future 

This case highlights the critical role of expert specialist valuations for flats affected by unsafe cladding. 

How Morgan Sloane Can Help You 

If you have a Help to Buy loan on a flat with unsafe cladding or an adverse EWS1 rating, our team can produce a compliant Help to Buy specialist valuation accepted by Homes England.

With years of experience and highly qualified specialist valuers, we provide practical solutions for challenging situations. 

Contact us today to discuss your Help to Buy loan or property valuation needs.