FTB survey confusion

flickerty

I'm currently in the middle of my application for a FTB mortgage with Natwest (seems to be going to the underwriters at the moment) and was planning to get either a homebuyers or full structural survey done independantly... just wondering, at what stage would be the best time to arrange for this to be carried out? ASAP or once we've had a formal mortgage offer?

On another note, i'm torn between choosing the homebuyers or structural survey. While i was initially thinking the latter as it is around 100 years old, i had a long conversation with a surveyer earlier who i called for some quotes and he seemed to be suggesting that a homebuyers would be adequate for a property that is not obviously dilapidated or of unusual construction etc, so now i'm not so sure

G_M

In my view a full survey only necessary if the property is old, delapidated or you have specific concerns (ie you can see ominous cracks...). Or if you plan extending/renovating and want a surveyer's views on this.

As you'll be paying Nat West to send a surveyer anyway (to do their valuation) it'll prob be cheaper to ask him for whatever survey you decide on.

For a newish property, or one clearly in good condition, esp in an area where other similar houses are ( eg a new estate) then frankly go to the library and get a good book, make a list of things to check and then go round yourself and use your eyes!! Start at the top (roof) and work down. It's easy enough to see if a roof has missing tiles, if there's damp or mould and cracks in the walls.

flickerty

Thanks G_M Although the house is old i am quite tempted by the home buyers survey now as it does appear to be in good condition, although i'm sure there's always potential for some nasty suprises. I think i'd prefer to have this done independant from the bank as i've heard they can do it in a very 'battery farm' type way and it can be difficult to speak directly to the surveyor about the results. With one of the surveyors i contacted today they said they'd meet with us in person afterwards to go through the report in detail and answer any questions.

Anyone know when might be best to arrange the survey? Before or after the mortgage offer?

G_M

flickerty wrote: »

Thanks G_M Although the house is old i am quite tempted by the home buyers survey now as it does appear to be in good condition, although i'm sure there's always potential for some nasty suprises. I think i'd prefer to have this done independant from the bank as i've heard they can do it in a very 'battery farm' type way and it can be difficult to speak directly to the surveyor about the results. With one of the surveyors i contacted today they said they'd meet with us in person afterwards to go through the report in detail and answer any questions.

Anyone know when might be best to arrange the survey? Before or after the mortgage offer?

Unless you're in a hurry, or under pressure from the vendors, save yourself the money and wait for the mortgage. If the mortgage gets turned down for any reason, you'll not have forked out for the survey.

It's always tempting to try to 'keep things moving', but lets face it, house-buying is stressfull and always takes longer than expected. Be patient.

vegasbaby100

I personally tend to go for mortgage valuations with the mortgage provider, see if you can get a deal with the mortgage company to get it for free. This will contain general information and point out POSSIBLE areas of problems. I then get the builder we use to come and check out the property for damp and general condition, then a roofer to check the roof and supports and if anything specialist is in question get the relevant tradesman around and that will cost you nothing and you will get costings or the work aswell.