Why do I need my own Survey?

The best way to reach an informed decision on such an important investment as a home is to have a professional survey and valuation of the property which interests you. 

Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a suitably experienced Surveyor to answer these questions for you:

·         What would be a reasonable price for the property?

·         Are there drawbacks I don't know about?

·         If so, what do I need to do about them?

Commissioning your own survey is the simple, economical way to avoid unpleasant-and perhaps costly-surprises after moving in.  In some cases, the Surveyor's report may enable you to renegotiate the price.

I already have a Mortgage Valuation report…

Even if you are seeking a mortgage-and may be paying for a Mortgage Valuation report-it is still advisable and prudent to arrange a survey by your own Surveyor.  The Consumers' Association Which? magazine and the Council of Mortgage Lenders give this advice.

The reason is simple: the Mortgage Valuation report is prepared for the lender-not for you, the borrower.  It answers only the lender's questions concerning the appropriate security for your loan.  You cannot rely on it to answer the questions which concern your personal interests.

What choice of surveys do I have?

Surveyors offer two forms of survey which are specifically designed to help homebuyers, a Building Survey or an Intermediate survey such as the Home Mover Survey & Valuation.

·    A Building Survey

(formerly called a structural survey)

A Building Survey is a bespoke service suitable for all residential properties and provides a full, detailed picture of their construction and condition.  It is likely to be needed if the property is, for example, of unusual construction, is dilapidated or has been extensively altered-or where a major conversion or renovation is planned. 

Building Surveys are usually tailored to the Client's individual requirements. The Report includes extensive technical information on material and construction as well as details of the whole range of defects, major to minor.

The Home Mover Survey & Valuation

(usually called 'The Home Mover Service'

In contrast to a Building Survey, The Home Mover, or Intermediate Service is in a standard format and is designed specifically as an economical service.  It therefore differs materially from a Building Survey in two major respects.

¨       It is intended only for particular types of home: houses, bungalows and flats which are:

·         conventional in type and construction

·         apparently in reasonable condition.

¨       It focuses on essentials: defects and problems which are urgent or significant which may have an effect on the value of the Property-although it also includes much other valuable information.

The Home Mover, unlike a Building Survey, provides not only a Survey but also a Valuation and reinstatement cost as an integral part of the Service.

What else should I know about the Home Mover Service?

The Service-the Inspection, the Report and the Valuation-are all explained in detail in the accompanying Description of the Home Mover Service, but the highlights are:

¨       This is an economical service.  Because of the practical limits on the type of property and on the scope of its coverage, the Home Mover Service is priced mid-range-more expensive than a Mortgage Valuation, but less than a Building Survey.

¨       The Surveyor's main purpose in providing the Service is to assist the prospective home-buyer to:

·         make a reasoned and informed judgement on whether or not to proceed with the purchase;

·         assess what would be a reasonable purchase price for the Property;

·         be clear what decisions and actions should be taken before contracts are exchanged.