The Consumers’ Association Which?, the Council of Mortgage Lenders and any solicitor will advise you to get a survey by your own Chartered Surveyor before you buy a property, and not just to rely on a mortgage valuation. Here are just some of the reasons why:

Q: I already have a Mortgage Valuation report, why shouldn’t I simply rely on that?

A mortgage valuation will deal primarily with the value of the property in its present condition. The mortgage valuation report may only refer to matters that will affect the lenders ability to grant the mortgage. It will not report in detail, on disrepair items unless they are so severe that they may affect value or saleability. The surveyor will take into account what can be reasonably seen within the property, without moving the furniture and carpets, and also the general external condition of the main components that are visible from ground level within the site or publicly accessible areas. Put simply:

A valuation isn't a survey. It’s a limited check on the property that your mortgage lender carries out to ensure it’s worth the money they’re lending you. Your mortgage lender may not necessarily require an inspection of the property to confirm your mortgage.

Some lenders provide a courtesy copy of the mortgage valuation to the buyer but it will not cover items of detail which would be picked up in a survey.

This type of report should not be used as the only basis for deciding whether or not to buy. This is why it is really important you have your own survey of the property.

---

Types of Residential Surveys

The aim of a survey is to provide you, as a prospective purchaser with all the necessary facts on the property in order to make an informed decision whether or not to proceed with the purchase, and if so at what price.

There are three main types of survey:

• RICS Homebuyers Report
• West Midlands Building Survey with Valuation
• RICS Building Survey

If you're about to buy a property, you may have specific worries about the building you’re going to buy. Talk them through with one of our Chartered Surveyors - they’ll be happy to discuss your particular concerns in more detail and help you decide which type of survey is right for you.

Our report is totally independent from all involved parties and designed to help you make a more informed decision based on the factual evidence contained within the report.

Costs vary according to which type of survey you have, but both the RICS Homebuyer Report and Building Survey can offer reassurance and real peace of mind. Contact us and fill in a few brief details regarding the property you’re purchasing and someone will get in-touch with you to discuss your requirements in more detail.