Property Surveys & Valuations

If you are thinking of purchasing a property, you’ll need to have some kind of survey carried out. But do you need to have a structural survey done, or will a more basic survey be good enough?

Mortgage Valuation Report

A Chartered Surveyor will visit the property and carry out a very basic inspection to ensure that the property is in reasonable condition, and worth the purchase price. This is the cheapest type of survey, and it will not highlight any defects which aren’t immediately obvious. For example, building surveyors would spot any tiles that are missing from the roof, but would not generally test for damp problems. This is the report required by the mortgage lender as part of the mortgage acceptance process.

Homebuyers Survey

This is a mid-level survey which is more in-depth than a Mortgage Valuation Report, but not as comprehensive as a complete structural survey. When a firm of Chartered Surveyors carries out a Homebuyers survey, they will make an overall assessment of the condition of the property. In addition, they will also report any problems which may require urgent attention or repairs.

Once the survey has been completed, you’ll receive a comprehensive report which includes an approximate calculation of the rebuilding costs of the property. This report will also highlight any problems which have been discovered which could affect the value of the property in the future.

Structural Survey

A full structural survey is the most comprehensive type of building surveys. A firm of structural engineers will carry out a detailed structural survey of the property from top to bottom. In this structural inspection, they will look at all aspects of the building structure (for example: the types of materials used, the condition of the roof, the state of the foundations and the integrity of the walls)

When carrying out a structural survey, structural surveyors will actively search for potential problems and building defects – even if they are not immediately obvious! Once the survey has been completed, you’ll receive a detailed structural survey report which will identify any problems found.

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