A question about surveys

giddypenguin

Hi,

We are buying a house approx. 9/10 years old. Got quite a small mortgage on it (just over 10%). We got a homebuyers report done with the mortgage company, but they won't let us see it... Should we get another survey done?

Just to note, they've been on market almost a year, sold twice in that year but both fell through, the vendors said this was due to work and not to do with the house, but (for those who read my last thread) we know they have already lied to us about one thing...

Hmmm... what would you do...?

alanmilstein

If you paid for a home buyers report then why would your lender not give it to you?
I suspect that they've charged you for a valuation and not for a survey.
Yes, no question (but then I am a surveyor so would say that...) you should have an independent survey.
Home sellers are often economical with the truth when it comes to reasons why things aren't right about their property and if it's fallen through twice already there could well be issues.

Cannon_Fodder

Ask the mortgage company for some money back. Either you see the Homebuyers, or they should only charge for a basic valuation.

Then you can go out and get your own Homebuyers.

jozbo

is it always advised to get a survey independent of the lender? ie. if you want a full structural survey, to pay for the basic valuation and get an independent survey somewhere else?

Cannon_Fodder

jozbo wrote: »

is it always advised to get a survey independent of the lender? ie. if you want a full structural survey, to pay for the basic valuation and get an independent survey somewhere else?

Not necessarily.

By combining the two purposes in one surveyors visit, you are likely to save a bit of money. Subject to shopping around, of course, or if there are specific concerns you might want to retain control over, or a particular surveyor who is not on the lender's panel of surveyors.

Have had a full survey through a lender's panel surveyor before. Had no trouble accessing the survey.

giddypenguin

It was with C&G (via Lloyds), our solicitor told us that they notoriously never let borrowers see the homebuyers reports... wish we had been told that before we took the mortgage out with them.

So in short - get another survey done?

jozbo

thats unbelievable! what's the point in having paid for homebuyers vs basic valuation with c&g then?

Cannon_Fodder

Not acceptable. "Money back, please" time.

giddypenguin

not sure we have a leg to stand on as I'm sure my partner signed a contract (or equvilent) with them - sure their argument will be 'should have read the fine print'

new_home_owner_3

Our estate agent gave us a copy of the old survey that had been done on our house by the previous person who was trying to buy it. why dont you ask them, they may have a copy of it especially if two people before have tried to buy the house.

they can only say no.

tux900

I wasn't aware lender's had homebuyer's reports commisioned for their own benefit anyway. In fact, why would they? They're not interested in the blurb; they want a valuation and notification of anything which may significantly effect it - a basic valuation provides exactly this.

Are you sure there hasn't been some wires crossed here about what you paid for? (Note that the price you paid is irrelevent - there is not necessarilly any correlation with the fee and what you get as many lenders will load the 'valuation fee' with whatever they discounted elsewhere).

Mathew