Banks agree to lend on properties with defects if remediation plan in place

mortgage application

Housing secretary Greg Clark welcomes move to unlock the lending market.

Major lenders have agreed to provide mortgage finance for properties that have fire safety defects where there is a remediation plan in place under a government-approved scheme.

A statement issued today by UK Finance, the Building Societies Association and the Royal Institution of Chartered Surveyors said lenders will provide finance on buildings that are being remediated through three schemes.

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