The Hidden Dangers of Buying High

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More than six months after the Grenfell Tower, in which 71 people died, mortgage lenders are being a little more cautious about lending to people buying flats in high-rise blocks. The problem pales in insignificance compared with the plight of those who lost their lives, loved ones and homes, but it is worth ensuring that if you are looking to borrow, that the building has the right safety and fire certificates before making an application.

According to Ray Boulger, of John Charcol, the broker,  “valuers are now asked to provide additional information on cladding”. There are also reported instances of extra fire safety checks being required. David Hollingworth of London & Country, said that fire safety had been mentioned by one lender as a potential problem on a case, but later retracted the suggestion. Not all lenders take the same approach, so check first.

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