Lending for Blocks of Flats
Flats up to Four Storeys high
All flats in blocks not exceeding four storeys* in height and flats in Scottish tenements of any height, will be acceptable at the discretion of the valuer, subject to the guidelines and restrictions on non-traditional construction that they have been given.
The valuer will be instructed in the usual way and will report on whether the flat satisfies our requirements in terms of construction, marketability and any other associated matters.
*Four storeys mean a ground floor with three floors above and ignoring any basement.
Over Four Storeys high
These will only be acceptable provided all the following apply:
- The block was originally built for owner occupation, or if not, the quality of construction and marketability are, in the valuer's opinion, superior.
- The valuer is able to confirm that the block appears to be well maintained and managed.
- The valuer believes that there is good demand for the flats which is likely to be maintained in the future.
- Lifts must be present unless the units are readily saleable without them.
For flats in this category, we will telephone the relevant Countrywide Surveyors office for confirmation that the flat is likely to be acceptable before sending formal valuation instructions.
The valuer must confirm in his report the points mentioned above.
