The External Wall Fire Review process is to be used by lenders, valuers, building owners and fire safety experts in the valuation of high-rise properties.
The process will require a fire safety assessment to be conducted by a qualified professional.
Only one assessment — valid for five years — will be required for each building.
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Charlie Blagbrough, policy manager at BSA, said: “Ensuring the safety and security of those selling, purchasing and living in high-rise homes remains paramount.”
Matthew Jupp, policy manager at UK Finance, added: “The independent valuation has a key role to play in the home-buying process, helping to deliver assurance to all parties involved that a property is both safe and secure.”
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