A survey needs to be carried out as part of the terms of your mortgage, your lender will need at least a basic valuation of the property before finally agreeing your mortgage.
Your mortgage company will normally arrange this on your behalf and instruct a local surveyor to visit the property, you can for an extra cost increase the level of the survey from a valuation survey (which purely advises the mortgage company that the property is worth what you are paying).
There are two types of survey that are generally available:
- A Home buyers survey reports on the condition of the property that can be easily seen or accessed
- A full structural survey, this is a much more detailed report that will advise you in much more detail of works that may need to be carried out on the property
- We would highly recommend getting at least a Home buyers report for your own peace of mind.
A home buyers survey will give you a basic overview but can panic some first time buyers as they are often vague and cover all bases i,e if they have been unable to check for woodworm because there are carpets they will advise that there may be woodworm and that you should have this checked.
A structural Survey will give you a much more detailed report detailing most issues that you need to address on the property should you proceed with the purchase
If you are concerned by anything in your survey please call us on 01702 619 221 and we can go through your points of concern and help you navigate the report.