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  • FIRST POST
    • cashbackproblems
    • By cashbackproblems 13th Mar 17, 7:00 PM
    • 1,490Posts
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    cashbackproblems
    Basic mortgage survery or Homebuyers for leasehold?
    • #1
    • 13th Mar 17, 7:00 PM
    Basic mortgage survery or Homebuyers for leasehold? 13th Mar 17 at 7:00 PM
    Hi

    My mortgage provider (Virgin money) has two options:

    1. A very basic survey from outside £271
    2. Homebuyers report £500

    CAshback on completion £300.

    This is for a leasehold small block of flats built in the 70's. Is it worth paying the extra £200 for the full report?

    thanks
Page 1
    • hazyjo
    • By hazyjo 13th Mar 17, 10:39 PM
    • 8,674 Posts
    • 10,669 Thanks
    hazyjo
    • #2
    • 13th Mar 17, 10:39 PM
    • #2
    • 13th Mar 17, 10:39 PM
    How confident are you at spotting structural problems, or things like whether walls have been knocked down or moved? Is there Artex? It may contain asbestos - not dangerous if untouched, but you should know. Is the roof flat or pitched? Some are flat in '70s blocks - might put me off due to limited lifespan. Is there cladding on the outside? If ground floor, I might want to be sure it has a damp proof course or adequate ventilation. Windows in good nick?

    You're spending probably tens or hundreds of thousands of pounds - some won't bother, but I always do - especially for the sake of a couple of hundred quid! Wouldn't even think twice.
    2017 wins: Opera tickets; cinema tickets; Ideal Home Show tickets
    • Chanes
    • By Chanes 13th Mar 17, 11:12 PM
    • 780 Posts
    • 461 Thanks
    Chanes
    • #3
    • 13th Mar 17, 11:12 PM
    • #3
    • 13th Mar 17, 11:12 PM
    For the cost, a home buyers report seems fine for a flat and some extra peace of mind. If you are confident everything is sound a valuation survey may be enough.

    You pay, you choose.
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