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Dim question (sorry!) re surveys
Bargain_Rzl
Posts: 6,254 Forumite
Hi all ... advice please ... As you may know if you've seen my recent posts, I'm in the early stages of arranging to buy into a shared ownership flat ... I just have a really blonde question (and no, I'm not even blonde, so no excuse 
) ... I don't know how surveys work! ... Is this something I have to arrange, or does the mortgage lender do it ... I assume it would only need a valuation survey as it's new-build ... TIA and apologies for my complete ignorance 
) ... I don't know how surveys work! ... Is this something I have to arrange, or does the mortgage lender do it ... I assume it would only need a valuation survey as it's new-build ... TIA and apologies for my complete ignorance 
Operation Get in Shape
MURPHY'S NO MORE PIES CLUB MEMBER #124
0
Comments
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Your mortgage lender will want to carry out a basic "valuation" survey just to check that the house is worth what you/the vendors say it is so they're happy to lend you the money. They'll organise that themselves once they've received your application, although they may charge you for it. It depends on the lender.
As a general rule, if it's a new build you're buying then that's usually all you'll need, provided you're getting all the correct certification/guarantees from the people you're buying from. You wouldn't normally need to worry about getting any upgraded or additional surveys.0 -
...and it may well be that they don't even want that. E.g. when I bought my new build, my lender was happy to accept the price list from the builder.I really must stop loafing and get back to work...0
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