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The issue facing flat owners…

If you are the owner of a flat and have been trying to sell your flat on the open market recently, you’ll most likely be aware that the flat market is facing a crisis.

In response to the Grenfell Tower tragedy in 2017, the government has implemented strict guidance on the material and maintenance of cladding used on flats, to ensure that they are not combustible. Any cladding deemed unsafe must be removed, often at the expense of the leaseholders. 

As a result, homebuyers are becoming increasingly reluctant to invest in flats in fear of safety or the cladding removal costs, and those who do want to are usually being denied mortgages from lenders.

It is believed more than 30,000 deals have already collapsed due to this issue.

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We can help you sell your flat with ease.

In order to sell a flat, the government now require an External Wall System survey (EWS1) to be completed on the property. This survey is completed by a chartered fire engineer, and the resulting documentation is needed to prove to lenders and buyers that the building is free from dangerous cladding (or any other combustible materials) in the construction of the property.

The survey will provide a grade: A1, A2, A3, B1 or B2. A1 is the best outcome, confirming there are no combustible materials, and no work is necessary. B2 is the worst outcome, identifying that there is combustible material present and significant remedial work is required. 

Unfortunately, there is currently a large backlog in these surveys being completed, and flat owners are waiting extended periods of time to get their completed EWS1. And even with a completed survey, buyers remain apprehensive about purchasing flats, particularly if they don’t achieve that top A1 grade. 

Even other cash buying companies are currently saying no to flats with cladding.

Selling your flat

In order to sell a flat, the government now require an External Wall System survey (EWS1) to be completed on the property. This survey is completed by a chartered fire engineer, and the resulting documentation is needed to prove to lenders and buyers that the building is free from dangerous cladding (or any other combustible materials) in the construction of the property.

The survey will provide a grade: A1, A2, A3, B1 or B2. A1 is the best outcome, confirming there are no combustible materials, and no work is necessary. B2 is the worst outcome, identifying that there is combustible material present and significant remedial work is required. 

Unfortunately, there is currently a large backlog in these surveys being completed, and flat owners are waiting extended periods of time to get their completed EWS1. And even with a completed survey, buyers remain apprehensive about purchasing flats, particularly if they don’t achieve that top A1 grade. 

Even other cash buying companies are currently saying no to flats with cladding.

How we help

At We Buy Any Home, we recognise how difficult this situation is, and we can help. We can purchase flats that have cladding. If you have an EWS1 form completed, we will use the grade, and any itemised costs within it to make you as accurate an offer as possible. We can then purchase the flat in as little as 7 days.

If you have not had an EWS1 form completed, we can still purchase the apartment, however this would be at much less than the market value. Of course, should the EWS1 form be completed in the meantime, we would increase our offer to reflect the grading.

Maximising value

Whether you have completed an EWS1 survey or not, we will have to take into account the forecasted costs of cladding removal, and the risks associated with us buying the apartment when we calculate our offer. 

So, whilst we can provide flat sellers with a way out, the offer may be much less than market value, and that is why we are happy to offer a profit share agreement. This means that when we come to sell the flat on ourselves, if we achieve a higher amount than we expected, we’ll give you a share of the proceeds.

So you can move on with your lives now, whilst being certain that you got the best possible value that we were able to give. More advice on this can be found on the Royal Institution of Chartered Surveyors and the Institution of Fire Engineers. 

If you would like to sell your property with We Buy Any Home, just pop your details into the form below.

Avoiding unnecessary fees

If you don’t want to pay any unnecessary fees when you sell your flat, get in contact with us today. As well as offering a no-fee solution to selling your property, the advantages of selling with us are…

  • We provide a fast and easy way to sell your flat. 
  • We use our own cash funds which means we can buy your property now. 
  • We offer the quickest way to sell your flat – we can complete in as little as 7 days.
  • We are the market leader when it comes to the cash home-buying sector. 
  • We are a founding member of the National Association of Property Buyers (NAPB) and members of The Property Ombudsman (TPO), meaning we follow strict guidelines and offer maximum protection to house sellers.

Popular Areas We Service

We operate across the United Kingdom including England, Scotland, and Wales. We can buy your house fast, whether you’re in the northernmost parts of Scotland or enjoying life on the beaches on the south coast.

Free cash offer within minutes, no legal fees, any location.

Frequently asked questions when buying your flat.

Call our team of experts: 0800 774 0004

Are flats difficult to sell?

It is common knowledge that flats don’t sell as quickly as houses. However, first time buyers and buy-to-let investors will certainly have their eyes on flats just like yours. But just because there may be interest, you are not guaranteed a sale. We Buy Any Home operate as cash house buyers meaning, can buy your flat for cash. With 300 years’ combined experience in the property sector, we are operating as the UK’s biggest and most trusted cash house buyer. Simply get a cash offer for your flat today and we will buy it from you using our own funds. We can complete in a timeframe that suits you – in as little as 7 days if you require – and we don’t charge any fees for our service. You can sell your flat stress-free!

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Can I sell a flat with a short lease?

Buyers are going to be attracted to flats with longer leases. If you’re trying to sell a flat with a lease under 99 years you will be asked to extend it, and this comes at a cost to you. Some mortgage lenders won’t offer mortgages on flats with leases under 80 years so it is likely a potential buyer could be put off if your lease isn’t over the desired threshold.

When it comes to a short lease it can be difficult to sell our flat quickly on the open market. Fortunately, We Buy Any Home can guarantee you a sale. We offer a cash house buyer service; this means we buy your flat from your (or any property) using our own cash funds. You won’t pay a penny in fees, and we will even cover your legal costs.

Interested? Get a cash offer for your flat today and start the process of selling your flat.

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What are the benefits of selling a flat for cash?

Selling your flat to a cash house buyer means you won’t have to waste your precious time facilitating viewings and negotiating a price, like you would on the open market. We Buy Any Home will purchase your flat directly from you using our own cash funds. This straightforward transaction guarantees you a sale and eliminates pitfalls of the open market such as chain breaks or buyers pulling out last minute. If you’d like to sell your flat fast start the process by getting a free cash offer today.

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What should I do if my flat isn’t selling?

If you’ve been using a local agent to sell your flat but they haven’t been successful, why not consider a cash house-buying service? By choosing to sell your flat with We Buy Any Home you are guaranteed a sale because we buy your flat directly from you using our own cash funds. We can buy your flat from you in as little as 7 days if you need, or we can work to any timeframe you give us. Our fast flat sale service doesn’t cost a penny and you can begin your route to sale with us today by obtaining a free cash offer online!

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