Survey on a recently re-done flat?

EagerLearner

Thanks Doozer - in the interim I have found out that Nationwide offer a valuation & also Homebuyers report all inc for £445, which means that the survey part/Homebuyer is only £160 effectively. We might do that & start from scratch. I have also e-mailed some of the surveyors on the website you recommended, just in case - thanks for that info ;o)

EagerLearners

Doozergirl

Good luck with it all. Hopefully you won't be wondering why you bothered to have a more thorough survey done when you have peace of mind.

clairehi

Doozergirl wrote:

I'd be happy to use a surveyor recommended by my solicitor if the price was right! There's no conflict of interest if the solicitor is working on your behalf.

There's a searchable database on the Royal Instuitute of Chartered Surveyors website too. I'd get some price comparisons. http://www.ricsfirms.com/vw/search/location.aspx

Slightly confused by this. When Ive bought houses, the mortgage lender has required that their surveyor do the mortgage valuation, and we've had a homebuyers report done for us at the same time. So we've never gone looking for our own surveyor. have I been missing a trick here?

Doozergirl

You can choose whoever you want to do the more comprehensive survey. You're not tied to anyone. It may well work out cheaper to use the person doing the mortgage valuations, but sometimes they're only employed for valuation purposes and you have to find your own surveyor.

lynzpower

Absoulutely. A homebuyers survey is a pre-requisite of many mortgages. It however doesnt take into account structural needs or stuff like faulty wiring, roofing, damp etc.

I would pay for full structural, but then im cautious like that.

EagerLearner

Hi, Clarehi - to clarify we would go for a separate surveyor, but as Nationwide are offering a good deal we will use them both for the valuation and also the Homebuyer report. This saves us money. Then one person does it all. We can't afford the full structural survey, so a basic Homebuyer report will have to do...

Eagerlearners

clairehi

EagerLearner wrote:

Hi, Clarehi - to clarify we would go for a separate surveyor, but as Nationwide are offering a good deal we will use them both for the valuation and also the Homebuyer report. This saves us money. Then one person does it all. We can't afford the full structural survey, so a basic Homebuyer report will have to do...

Eagerlearners

I take it nationwide are the lender?

I asked the question originally because there seemed to be an implication that you were choosing a surveyor yourself to carry out both the mortgage valuation and the home buyers report.

in my experience the mortgage lender decides what surveyor does the mortgage valuation.

I think it would be fairly unlikely that instructing your own home buyers report separately would ever be cheaper than having the same surveyor do the mortgage valuation and homebuyers. also the vendor probably wouldnt appreciate having to stay in for 2 separate surveyors to come round.

I have never bothered shopping around for a separate home buyers report because of this.

on the point of "full structural survey" vs homebuyers, this is a very long running debate Im sure but the estate agents description of the options sounds extrmely iffy to me. I would ignore everything they say as they are NOT acting for you here.

the home buyers report is a cheap and cheerful exercise but my view was we may as well have it as it only cost a bit more than the compulsory mortgage valuation and it does give some peace of mind.

I always thought a "full structural" report was only indicated for very old or unusual buildings or if you are planning a major extension.

EagerLearner

Hi Clarehi - we were always going to have to have the valuation from Nationwide as they are the lender, and now we will also let them do the survey for ease & less cost. You are right, it does give peace of mind and also we don't believe the EA on all points, we know that would be foolish. After a call an hour ago, the previous buyer had a valuation and approval for the mortgage, but never even had a survey at all and pulled out due to personal problems.

Thanks all - we are seeing our IFA this wednesday and probably instructing him to get the valuation and the survey started with Nationwide.

EagerLearners

devils_advocate

Put it this way - after you've bought a place, are you going to insure buildings and contents? Look on the extra Homebuyers survey cost as insurance that the place you're buying does not have anything fundamentlly wrong with it.

clairehi

devils_advocate wrote:

Put it this way - after you've bought a place, are you going to insure buildings and contents? Look on the extra Homebuyers survey cost as insurance that the place you're buying does not have anything fundamentlly wrong with it.

its also worth noting that mortgage valuation reports these days have a statement saying the purchaser should not place reliance on them as they are for the use of the mortgage company only. in other words, dont try and sue us if somethings wrong with the house that we should have noticed.

whether that would get them off the hook in the event the house fell down shortly after completion I dont know....