Valuation v homebuyer's survey (and anyone know about electric ceiling heating?)

Caz99

Hi

I am a first time buyer and have just had an offer accepted on a flat - it is 20 years old and seems to be in good condition apart from rotten window frames and a bit of damp in the bathroom (which I suspect is caused by inadequate ventilation).

I had intended to go for a homebuyer's survey as I did a conveyancing course as part of my training to be a solicitor, and we were told to always advise a client to get a homebuyer's survey. However, my mortgage advisor says that the homebuyer's survey doesn't contain much more info than the valuation and doesn't provide me with any right to sue the surveyor in case of negligence.

As my budget is tight, I don't want to spend unnecessarily, but I am quite concerned about the fact that the flat has electric ceiling heating - this is completely alien to me and seems like a potential disaster area.

Does anyone know what level of detail I would get in a homebuyer's report - is it worth getting? And anyone know anything about this electric ceiling heating - is this common in newish flats?

Thanks in advance

C

Ian_W

Hi Caz & welcome,
Are you sure it's not electric underfloor heating? On the basis that heat rises all ceiling heating would do is warm the folks who live above you. If you're on the top floor the birds on the roof would be pleased but if you live on the ground floor it would be about as helpful as a choccy fireguard I would have thought.

Personally if it's over 10yrs old and out of warranty I'd go for a homebuyers, if it's done by the lenders surveyor at the same time as the valuation it usually costs a bit less than having done independently. Sure there is a lot of @rsecovering by the surveyor but then you'll know just how litigeous the world can be so that is understandable. It's the biggest purchase you'll have made to date, it provides some reassurance that a property professional has looked at it as well as you even if you can't sue them if they've got it wrong.

Electric ceiling heating ... well I never.

AndrewSmith

The rule of thunb I always advise is:

0-10 years old = valuation
10-60 (or so) = Homebuyers
60 + consider building survey

Andy

silvercar

Bet you homebuyers report observes that you have a non-standard heating system and suggests you get an expert in to check on it.

Wickedkitten

silvercar wrote:

Bet you homebuyers report observes that you have a non-standard heating system and suggests you get an expert in to check on it.

Oh yes, and the bathroom will be swimming in damp so he'd better get a damp report done.

Caz99

Hi
The flat is on the first floor, so the flat below has ceiling heating and in theory I have floor and ceiling heating. It doesn't make sense to me either, but all the properties on the estate seem to have it. Will get a homebuyer's and see what it comes up with.

Thanks all

BobProperty

Ian_W wrote:

Electric ceiling heating ... well I never.

Honest folks it does exist! Just do a google and you'll find it.

Wickedkitten

BobProperty wrote:

Honest folks it does exist! Just do a google and you'll find it.

Surely that's not very efficient though since heat rises.

lixi

Hi Caz,

I lived in a rented flat in London for four years which was fitted with ceiling heating. We didn't have any problems with it - we rarely used it in fact. I was, and am still, perplexed as to what "bright" spark came up with that ridiculous idea. Anyone who has attended junior school knows that a basic principle of physics is that heat rises?!?!

Anyway, it worked, after a fashion. You could sit on the sofa and raise your hand above your head and feel a difference in the air temp. We hardly used it tho, relied on standalone convection heaters.

I shouldn't think it is too much of a concern and like other people say, I doubt you will get much assurance from a homebuyer's survey. I personally wouldn't bother with a survey unless you are sufficiently concerned to shell out for a structural or major defects. Homebuyers are little use to anyone. If you are not blind, you will be able to pick up most if not all of the things that will be mentioned.

Lixi x

courtjester

lixi wrote:

Homebuyers are little use to anyone. If you are not blind, you will be able to pick up most if not all of the things that will be mentioned.

Not sure I agree with that - the thing to understand is that the difference between a "Mortgage Valuation" survey and a "Homebuyers" report is that the valuation is done for the mortgage company and only serves their interests and the Homebuyers report is done for you the buyer and serves your interests.

Modern homebuyers reports provide a considerable amount of information about a property, OK not to the full extent of a full structural but not bad all the same, and will pick up major and some minor faults or point out some not so obvious considerations that might be highly relevant to buying or not buying.

Unless a buyer is confident in understanding how buildings are put together and the common faults that occur in older properties, it seems daft to risk the largest purchase of your life without shelling out a few hundred pounds as a precaution. It is commonly misunderstood that a mortgage valuation would highlight problems - it won't. It only covers the mortgage company's interest, in other words, if they have to repossess, can they get their money back on selling. They are not interested that it might cost a fortune in future maintenance to put all the problems right and hence the survey does not cover faults.....

In addition, despite caveats in the surveyors disclaimers etc., you would have additional protection against negligence or mis-reporting in a Homebuyers Report and hence there is a potential legal route if the survey does not highlight serious faults which it should have.

If a mortgage valuation doesn't mention the galloping termite infestation in the roof or the accelerating foundation subsidence, don't go crying to the mortgage company when you buy it 'as is'.