Written question WQ97722
- Asked by
- Rhys ab OwenIndependent
- To be answered by
- Cabinet Secretary for Housing and Local Government
- Tabled
- Due
- Answered
- Time to answer
- 10 days
Question
What discussions has the Cabinet Secretary had with mortgage lenders to ensure that apartments in developments with building defects can be purchased with a mortgage?
Answer
Answered by Cabinet Secretary for Housing and Local Government
Welsh Government officials worked closely with the Royal Institute of Chartered Surveyors (RICS) ahead of the publication of updated valuation guidance in December 2023. This guidance aims to help leaseholders access mortgages and secure a fair market value for their property. Leaseholders who haven’t had a recent valuation are encouraged to consider an updated valuation.
My officials continue to work closely with UK government officials and relevant stakeholders to ensure mortgages can be secured in developments where fire safety remediation works are planned.