When is an independent survey not really a survey?
There are a couple of instances when you may be told you have had an independent survey – but that may not necessarily be as independent or as comprehensive as you might expect, or in some cases not a full survey at all. Here’s why…
Mortgage Valuation vs Building Survey – What’s the Difference?
-When it’s a mortgage valuation survey – The valuation only tells the mortgage company they can lend you the money. You might not actually even see the ‘survey’. An independent private building survey commissioned by you, for you, will tell you plenty and the mortgage company nothing. This is one of the most common areas of confusion for buyers comparing a mortgage valuation vs a building survey.
When a Survey Isn’t Truly Independent
– When it’s not really independent. For instance, when the surveyors recommended by the estate agent are actually owned by the estate agent (happens more than you think – no pressure there to paint a property in a positive light then…) or when the survey is carried out by the mortgage company’s surveyor at the same time as the valuation report… The mortgage company will often try and sell you a survey that will be the same but more expensive than ours. In these cases, the ‘survey’ may not be truly independent, as the surveyor may have a commercial relationship with the lender or agent. This can raise questions around impartiality and whether the report fully reflects the condition of the property.
Why Choose an Independent Chartered Building Surveyor?
We recommend you use a firm of independent chartered building surveyors (like Collier Stevens) and you’ll get a better report cheaper. Ideally choose a firm of surveyors relatively local to where you want to buy – they will know the area and its property. We are reminded of an incident some years ago when a client had commissioned a survey in London though their building society and found that the surveyor was coming from Bristol!
Choosing an independent chartered building surveyor ensures you receive an impartial assessment focused solely on your interests. Local surveyors in Kent and London also bring valuable knowledge of regional property types, construction methods, and common defects.
What Type of Survey Do I Need? (Quick Guide)
If you are confused as to which survey you need try this quick guide:
HomeBuyer Report vs Building Survey
If the house is modern have a Homebuyer Report, if it’s old you’ll need a Building Survey.
- If the property is modern or conventional, a HomeBuyer Report is usually appropriate.
- If it is older, unusual, or altered, a full Building Survey is recommended.
When You Need a Building Survey
If you want specialist advice such as comment on alteration and costs you’ll need a building survey.
- Such as detailed advice on structural issues, alterations, or repair costs. A Building Survey is the most suitable option here.
Can You Skip a Survey?
If you want to chance it and gamble against future bills, don’t bother with any survey at all.
Get a building survey quote from Collier Stevens, your local independent chartered building surveyors in Kent and London.
Steven Way
Steven Way BSc MIHEEM MFPWS MRICS is the Practice Principal and is a Chartered Building Surveyor. With over 35 years as a practicing surveyor, Steve has a wealth of experience and expertise in both residential and commercial building surveying, party wall advice and disabled access auditing. He has also built his reputation as an expert witness.