Building Safety Act (BSA) Introduction

The BSA was granted Royal Assent on the 28th April 2022. The BSA represents a significant shift in the planning, design, construction and management of applicable buildings. The BSA imposes procurement and development milestones, which materially change the lender’s risk profile pre-and post-contract.  

At Nexus RE, we're advising on the new risks created by the BSA and its gateway milestones. In our workshop, we set out our view of procurement, contractual, appraisal, and facility provisions that mitigate the lender risks created by the BSA.  

We’re also advising lenders on the changes that should be incorporated into the monitoring surveyor’s appointment document arising from the new provisions of the BSA. Newly recommended appointment provisions increase visibility of the Gateway 2 and Gateway 3 submissions, align contractual documentation with the new liability periods under the Defective Premises Act, and provide a framework for assessment of the regulator’s capability expectations of the development team.

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