Frequently Asked Questions
Please see below some of the answers to the questions I get asked most regularly. If you have a question for which the answer is not here please feel free to contact us either by phone on 01243 767809 or through our Contact page.
I am having a Mortgage Valuation, do I still need a Survey?
If you are buying your property with a mortgage your lender will require that you have a Mortgage Valuation undertaken by one of their panel Valuers.
Even though you are required to pay for this Valuation its main purpose is to protect your lender and ensure the property is worth more than the amount they are lending. Although the report may offer some information about condition this will only be where it affects the value of the property.
The inspection itself is limited, the Valuer does not even have to look in the loft! For detail about the condition of the property you are buying and any potential problems you will need either an independent survey.
My lender offers an upgrade to a Building survey with the valuation, am I allowed to use an independent Surveyor?
Whilst your lender may offer a Building Survey or Home Buyers Report at the same time as the valuation they can only require that you use their panel Surveyors for the Valuation, there is no requirement for you purchase any additional services. You are free to appoint an independent Surveyor who is working to represent your best interest.
I am buying a flat, do I still need a survey?
For most flats it is often the case that the maintenance of the building and communal areas will be dealt with either by a Freeholder or a Management Company.
The costs for maintaining any block are usually covered by a service charge collected from all the flats within the building. If the total costs in a year are higher then anticipated then the Management Company or Freeholder will have to recover the extra from Leaseholders directly. This means that although you may not have to pay all the costs of a repair to the building, you will have to pay your share. It also means that you will only have a limited amount of input in to how and when the repair is made. This makes it very important to understand the condition of the property you are buying to ensure you are not met with any unexpected bills.
In addition to looking at the physical condition of the property our surveys also consider any management issues which may affect the property. This can be as simple as whether there are any parking problems to more fundamental matters such as whether the important safety and security features are being properly maintained.
My purchase is a new build with an NHBC guarantee, do I still need a survey?
Most new build properties come with an NHBC guarantee. This guarantee usually covers the services ( e.g. gas, electrics) within the property for the first three years and the main building for 10 years.
Although this guarantee does offer you a degree of cover it is only cover against building defects that would cost more then a set excess to repair, normally over £1,000. Any issue that would cost less then the excess or is caused by lack of maintenance is not covered by the guarantee and repairs would have to be made at the home owners expense.
Our surveys will identify any issues which might be covered by the NHBC guarantee allowing for them to be addressed prior to completion.