Ministerial Working Group on Mortgage Lending and Cladding meeting summary: March 2021

Summary of the meeting of the Ministerial Working Group on Mortgage Lending and Cladding, held in March 2021

Items and actions

Item 1: Open, apologies & actions

No apologies were noted with all members attending. 

  • Action: SG officials to develop options further and undertake discussions with Group members to do so. 

  • Action: Officials to approach lenders and professional bodies on this point. (historic EWS1/change in professional requirements)
  • Action:  Officials to engage IFE to take their views
  • Action: SG Officials to develop communication strategy setting out the timeline and common approach and involve interested members.
  • Action: SG officials to prioritise discussions with key stakeholders and members of the Group to contribute to the SAN process.
  • Action: SG officials to circulate latest SG communications for distribution to interested parties and group member organisations.

All actions were completed and included for discussion in relevant agenda items.

Item 2:  Updates on draft guidance and consultations

The Group was updated on progress with the RICS guidance, with the consultation having been completed, the Guidance Note was published on 8 March with effective date being 5 April. The EWS1 was updated with some minor amendments and this was also published on 8 March.

Officials provided an update on the draft Scottish Advice Note, which is expected to be published in summer. It was noted that it was sought to provide as much alignment as possible between the Scottish Advice Note and the RICS Guidance. The Minister noted that safety is paramount.

Item 3: Discussion and Agreement of Draft Report

The members of the Group were invited to share views and after a short discussion agreed the publication of the Report of the Ministerial Working Group on Mortgage Lending and Cladding.

Items 4: Scottish Government response and Communications

The Minister acknowledged the work by all members of the MWG in producing the agreed report under unusual and challenging circumstances and expressed his thanks for the collegiate and constructive approach taken. 

He also thanked the Group members for giving their time and professional expertise freely to help resolve an issue for the benefit of people across Scotland.

The Minister advised that Scottish Ministers were content to accept all the recommendations in the report and would look to take forward work and action to deliver these as soon as practicable.

Officials provided information on the planned communications around the publication of the Report, intended later in the week.

Item 5: Conditions for delivery

The Group had a short discussion on the conditions needed for the successful delivery of this work, noting the forthcoming election period.

Item 6:  AOCB and close                                                     

No further business was raised and with no further meetings planned, the Minister declared the work of the Group concluded with publication of the report.

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