RICS launches new valuation process for residential towers

High-rise tower blocks

Service seeks to standardise valuations across high-risk housing stock

A new valuation service for those looking to buy, sell or re-mortgage homes in high-risk tower blocks should “unclog” a market paralysed by fears over the costs of dealing combustible cladding material, according to RICS.

The programme, created by RICS, the Building Societies Association and banking industry group UK Finance, aims for a consistent classification of cladding systems on high-risk residential towers.

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