WHAT KIND OF SURVEY SHOULD I HAVE?

You might already have had a MORTGAGE VALUATION, but this is prepared for the lender, not you. The purpose of a mortgage valuation is to tell the lender whether or not the property provides good security for the loan they are making to you. The surveyor only carries out a very brief inspection of the property. It will only refer to repairs and problems which have a significant effect on value. It doesn't give you the information that you need to decide whether or not the property is the right one for you.

Download an example of a Mortgage Valuation

There are three forms of inspection:-

A VALUATION REPORT is similar in detail to a Mortgage Valuation. Depending upon size, age and condition, the inspection for this report takes approximately 30 to 45 minutes. The information is not detailed and provides basic information about the property. A test for dampness is undertaken as well as a “head and shoulders” roof void inspection. It includes a market valuation and a buildings insurance calculation. It is an “economy” report suitable for more modern, conventionally-built properties which have been maintained to a reasonable standard, and where no mortgage valuation report is available for the buyer (for example, no mortgage is needed to buy the property, no mortgage valuation is being carried out or where the mortgage lender does not supply a copy of the mortgage valuation report to the borrower).

Download an example of a Valuation Report

A HOMEBUYER SURVEY & VALUATION is more thorough and detailed, and the time spent at the property is typically two to three hours. The inspection and report are, therefore, more thorough and detailed. The report is broken down into various headings, for example: movement; dampness; roof structure and covering; main walls; external joinery; internal walls; floors; services; garage/outbuildings and a section on legal work. This is a visual report and no services are tested. Manhole covers are lifted and a detailed inspection of the roof space is undertaken. Defects reported within each heading are summarised into repairs requiring urgent attention or repairs needing general maintenance. It includes a market valuation and a buildings insurance calculation. The Homebuyer’s Report is most suitable for houses of traditional construction in good, average or fair condition. Client’s specific queries can be addressed in this report, for example, concerns about particular defects and proposals for extension or alteration. It is usually the best choice for most conventional residential properties which have been reasonably maintained. At Tim Stubbs Limited, we specialise in this sort of survey.

Download an example of a Homebuyer Survey & Valuation

A BUILDING SURVEY is a more technical report than a Homebuyer’s, and in even greater detail, the inspection taking between three and four hours. Fine detail is highlighted, for example, number of slipped tiles. It explains the consequences of non-repair. It does not include testing of services and no valuation is included. Building Surveys are excellent for some properties, particularly older properties of say 200 years or more, or those of non-traditional construction, or properties in a dilapidated condition. Photographs of our findings are included with our report.

Download an example of a Building Survey

"Thank you for the swift and comprehensive survey that you conducted for me, also for the thorough talk and explanation."

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