Keith Denholm says the impact is "fairly significant" as it will impact not only the buildings with cladding on them, but also there will be a roll-on effect on the rest of the market.

Tory MSP Graham Smith asks how many properties are being effected by the zero value issue and is told the numbers are not available.

Mr Denholm adds there will be hot spots around areas areas with more development, such as Glasgow, Edinburgh and Dundee.

Phil Diamond says the issue tends to impact flats built from 1990 onwards.

Keith Denholm from the Royal Institution of Chartered Surveyor says the valuation for a specific lender will lead to a zero value following the guidance of that lender depending on cladding issues.

Mr Denholm says a zero valuation is not a valuation, rather a process to ensure the mortgage process goes correctly.

He explains the zero valuation remains until clarification in an EWS1 form is provided, when the valuation of the building is added to the form.

An EWS1 form is intended for recording in a consistent manner what assessment has been carried out for the cladding of residential apartment buildings where the highest floor is 18m or more above ground level or where specific concerns exist.

Image source, Getty Images

Every resident in a high-rise property in Scotland is to be given fire safety advice based on practices introduced since the Grenfell Tower disaster.

Leaflets on how to prevent fires in the home and what to do if one starts in the building are being distributed.

Libraries and community centres in all 15 local authorities with the properties will also be included.

The guidance, external comes more than two years since the Grenfell blaze, which claimed the lives of 72 people.

Read more.

The committee will hear evidence on the issue of ‘zero valued homes’ - buildings which have received a ‘zero’ survey valuation as it could not be verified that their cladding met post-Grenfell safety standards.

The convener welcomes:

• Phil Diamond from Diamond and Co, external
• Matthew Jupp from UK Finance, external
• Keith Denholm from the Royal Institution of Chartered Surveyor, external
• Brian Smith from the Law Society of Scotland, external
• Derek MacDonald from Property Managers Association Scotland, external

Image source, Getty Images

The Energy Efficiency (Domestic Private Rented Property) (Scotland) Regulations 2020, external would ban new tenancies after 1 October 2020 if a property does not meet the minimum EPC rating.

Under the Route Map to an Energy Efficient Scotland, launched by the first minister in 2018, all homes will be improved to achieve an Energy Performance Certificate (EPC) rating of at least band C by 2040.

An EPC gives a property an energy efficiency rating from A (most efficient) to G (least efficient).

Private rented properties will be required to meet band E by 2022 and band D by 2025.

Image source, bbc

The committee is taking evidence on energy efficiency regulations from:

• Housing Minister Kevin Stewart
• Karen Major from the Scottish government
• Norman Macleod from the Scottish government

Image source, Getty Images

MSPs on the local government committee will this morning take evidence as part of its building regulations and fire safety inquiry, external.

New safety standards came into force in the aftermath of the Grenfell tower fire in London.

But the committee has heard concerns about difficulties on verifying whether cladding used on high rise buildings met post-Grenfell safety standards, which will largely be the focus of today's session.

Read the committee papers here., external

Image source, PA Media

Welcome to BBC Scotland's coverage of the Scottish Parliament on Wednesday 26 February 2020.

The local government committee continues its building regulations and fire safety inquiry.

It is focusing on difficulties in verifying whether cladding meets post-Grenfell safety standards.

Image source, Getty Images

A statement on inshore fisheries kicks off the afternoon, followed by culture and education portfolio questions.

Then the Scottish Tories lead a debate on Police Scotland's budget, arguing services are "underfunded".