TSB will grant mortgages without an EWS1 form if the flat, or block, has approved government-backed or developer funding for the cladding, or, external wall system repairs.
The lender says brokers should inform its application processing team in their submissions, who will then complete internal checks.
In December, many major lenders said they would consider mortgage applications on flats in buildings in England over five storeys (or, 11 metres) from early January, after new guidance from the Royal Institution of Chartered Surveyors and government legislation.
The UK’s flat sale market has been severely curtailed for several years following the 2017 Grenfell Tower fire, which killed 72 people, leading to a fire safety crisis over dangerous cladding.
Uncertainty over the safety of tall blocks made it difficult for borrowers to secure a loan to buy, sell, or remortgage flats impacted by cladding.
It was also unclear whether leaseholders or developers would pick up the tab for repairs that typically mount up to thousands of pounds.
However, last year’s Building Safety Act means that the majority of leaseholders, in England in buildings at five storeys and over, are protected from cladding removal and repair costs.
Rics said at the time: “Lenders will need evidence that buildings will be self-remediated by developers or covered by a recognised government scheme, or by leaseholder protections contained in the Building Safety Act, as evidenced by a Leaseholder deed of certificate.”
Early backers of the move included Barclays Bank, HSBC, Nationwide Building Society, NatWest, Santander, the Building Societies Association and UK Finance.
