Which survey for one year old house?

santana-mx3

We are buying a house which is approx 1 year old.

I assume the mortgage lender's valuation survey is not sufficient. I have read horror stories about some new builds.

Is it best to upgrade the mortgage lender’s valuation survey to a homebuyer’s survey or should we let the mortgage lender carry out their basic valuation survey but then get a separate surveyor to do the homebuyer’s survey? I assume we don’t need anything more detailed (structural survey) unless any problems are highlighted in the homebuyer’s survey?

Thanks in advance for any advice. We are quite new to this.

silvercar

If you upgrade it should work out cheaper as the surveyor will do both at the same time. As the homebuyer's report is written for your benefit there is no worry about not getting truthful comments.

davef

Hi

Judging by the standards of your average new build I would get a professional snagging company in. A snagging report can be completed in the first two years after build and issue of the NHBC certificate and must be rectified by the housebuilder.

For example https://www.newbuildinspections.com
They charge £360 for a 3 bed house inspection (if booked online)

I assure you a professional like that will find many more problems than a 'homebuyers' report !! These guys have worked in relevant building trades prior to 'snagging' and so have more experience than a typical surveyor

I was so disappointed with my last homebuyers report that I considered it a waste of money. Full of disclaimers on damp, electrics etc. This was on a 80 year old house but in future I will use my 'friendly' builder.

Hope this helps and good luck.

Dave

santana-mx3

Thanks for that Dave. I suppose since the snagging list is something to take up with the housebuilder, it's something for us to do after buying the house (assuming everything else goes through)? Would it matter that the existing owner has presumably already presented a snagging list to the housebuilder?

The mortgage we applied for is with the Woolwich. They seem to use Homefile 1, Homefile 2 and Homefile 3 in place of Valuation, Homebuyers and Building/Structural but I don't think these are direct equivalents.

See: http://www.ekins.com/homefile.htm

Since Woolwich charge £385 for Homefile 1 and £615 for Homefile 2, is Homefile 2 worth it or is it better to stick with Homefile 1 and then get another survey done privately (or wait and go to a professional snagging company instead of the private survey)?

davef

Hi santana-mx3

Decisions, decisions. The key issue here is that a house purchase is probably the biggest single investment you will make. So its right to take the precautions you seem comfortable with or that will reassure you that the 'investment' is sound.

I think the compromise that would be most 'effective' for the money would be a homebuyers report on purchase with a professional snagging inpsection as soon as you have completed the purchase. Upgrade the valuation inspection to a homebuyers so its carried out by the lenders surveyor.

I would add that its best to have the snagging inspection done before you move the furnniture in so the 'snag' surveyor has access to floors etc.

It would not matter that previous inspections had been carried out. Its a case of whether the problems found had been passed on to the house builder and what action they would carry out to fix them. New problems can be added to the list.

Timescales are also relevant as you do not want to wait months to have problems corrected.

Also professional snaggers have experience in dealing with the house builders and I am sure any tactics they will use to delay remedial action. After all additional snagging work on the property is lost profits to the builders !!

Dave

Astaroth

The normal rule of thumb would be a home buyers survey on something thing less than 100 years old (unless you suspect problems) and a structural survey on something more than 100 years.

Given that the house however is still under warrenty I personally would question if it is necessary for more than a valuation and pro snagging report. I assume that the warranty is transferable though (never bought and sold a new property within the timescales so havent looked into it)