Arranging your own survey is the simple, cost-effective way to avoid unpleasant and perhaps expensive surprises after moving in. In some cases, the surveyor’s report may allow you to renegotiate the price of the property.
Over 80% of homebuyers, an overwhelming majority, do not obtain independent advice on the condition of the property they are buying before they commit themselves. Even if you are looking for a mortgage and, as a result, may be paying for a mortgage valuation report, we still recommend that you arrange a survey by your own surveyor. Both the Consumers’ Association ‘Which?’ magazine and the Council of Mortgage Lenders give this advice.
The reason for this is that the mortgage valuation report is prepared for your lender – not for you, the borrower. It answers only the lender’s questions about whether the property offers suitable security for your loan. You cannot rely on it to answer the questions that concern your personal interests or to give you details of the condition of the property. Also, some lenders do not provide a copy of their mortgage valuation report.
As Chartered Surveyors, Butters John Bee offer two forms of survey that are specifically designed to help home buyers. These are a building survey and the RICS HomeBuyer Report.
Which survey is for you? Click here to download a guide or call Freephone 0800 2800 699 for further advice.
