Surveyor anger!

G_M

ValHaller wrote: »

Whose survey is it anyway?

People are forgetting that the survey belongs to the mortgage lender (even though the borrower pays for it) - it is done to allow the lender to decide whether the property is a good security for the loan. The surveyor will be very clear in his own mind that his client is the mortgage lender

Your assessment is right, but since the OP seems confused about who paid for what, your misuse of the term 'survey' above just adds to the potential confusion.

The OP did NOT pay for, request, or get, a 'survey' (unless I've misunderstood the 1st post).

The mortgage lender arranged a 'Valuation' (which the OP has to pay for as it is part of the mortgage application overheads) and offered the OP the chance to upgrade this to a survey, which the OP declined.

The distinction is that
* a Valuation just says "Yes, the property is worth at least the £XK that is being borrowed," or "No, it is only worth £YK".
* a survey actually looks at and reports on individual aspects of the building's construction and stateof repair.

ILW

The surveyor may well have done the valuation without even getting out of his car.

jibbyboo

ILW wrote: »

If it is that limited that £100 is an issue, I would reconsider whether you can afford to buy at all.

When you have carefully worked out your budget as I have, and contingency is low, plus my building experts have looked at the property and found no glaring problems, then going in to a homebuyers report IMO would be an unproductive use of the £100 given the £1000s that I am spending and may have to spend should problems arise with solicitors etc.

This is why I wanted to be present at the valuation.

DRP

jibbyboo wrote: »

When you have carefully worked out your budget as I have, and contingency is low, plus my building experts have looked at the property and found no glaring problems, then going in to a homebuyers report IMO would be an unproductive use of the £100 given the £1000s that I am spending and may have to spend should problems arise with solicitors etc.

This is why I wanted to be present at the valuation.

you'd probably get more information from an additional comprehensive viewing of the property yourself (arranged through the EA and taking a savvy mate along with you), than what the surveyor who did the valuation could tell you...

ILW

jibbyboo wrote: »

When you have carefully worked out your budget as I have, and contingency is low, plus my building experts have looked at the property and found no glaring problems, then going in to a homebuyers report IMO would be an unproductive use of the £100 given the £1000s that I am spending and may have to spend should problems arise with solicitors etc.

This is why I wanted to be present at the valuation.

Are your building experts prepared to accept any liability if it turns out there are major problems?

jibbyboo

G_M wrote: »

The distinction is that
* a Valuation just says "Yes, the property is worth at least the £XK that is being borrowed," or "No, it is only worth £YK".
* a survey actually looks at and reports on individual aspects of the building's construction and stateof repair.

That is concerning, as I've been informed by the mortgage provider and the surveying company that I should be informed about any basic problems that were noted during the valuation.

Additionally, my uncle (a surveyor, but not a home surveyor so could only provide limited advice) said that the surveyor would have a duty of care to report anything that looked like it would be an issue.

Is this incorrect??

bclark

ILW wrote: »

Are your building experts prepared to accept any liability if it turns out there are major problems?

Would the surveyor even if the OP had paid the extra for a home buyers report?

They would have simply provided a report specifically aimed at avoiding any liability at all as per usual.

jibbyboo

ILW wrote: »

Are your building experts prepared to accept any liability if it turns out there are major problems?

My father (a civil engineer) and my friend (a rental property maintenance man). No, I shouldn't think so! Fortunately though, they have a wealth of experience in this industry between them.

ILW

jibbyboo wrote: »

My father (a civil engineer) and my friend (a rental property maintenance man). No, I shouldn't think so! Fortunately though, they have a wealth of experience in this industry between them.

So if you are satisfied with their knowledge and experience that the place is sound, why worry about the valuation surveyor?
Or am I missing something?

If you pay for a full survey it will be backed by
professional indemnity insurance.

jibbyboo

DRP wrote: »

you'd probably get more information from an additional comprehensive viewing of the property yourself (arranged through the EA and taking a savvy mate along with you), than what the surveyor who did the valuation could tell you...

That's what I thought too, so I took my dad and friend to view the house independently. They didn't spot anything terrible.