The Mortgage Valuations

This report is so often described inaccurately as a survey, which it really isn’t.  Basically, the valuation report looks at the value of the property and, in spite of the fact that you generally pay for it is actually for the benefit of the bank or building society lending you the money to buy the house. The inspections are cursory, usually only taking about fifteen minutes to half an hour to complete.

Make no mistake, the surveyor in this instance is not acting on your behalf, he is working for the lender.  Having established that the Surveyor carrying out your mortgage valuation only spends about the same amount of time looking at your potential purchase as you did when viewing it, and having established that he is not protecting your interests, he is working for the lender.

What other options do you have to protect your investment? There are two types of survey where the Chartered Surveyor is acting on your behalf and really working for you (as long as he’s not doing the mortgage valuation as well, but more about that later): the Building Survey (formerly called a Structural Survey) and the Homebuyers Survey. So what does each one involve and to what are they suited?

Why don't you compare one of our surveys with one prepared by a mortgage company-owned surveyor - click here.