Wildly incorrect surveyor's cost quoted by broker - is there anything I can do?

lghw

I'm taking out a mortgage via a broker. The lender requires a valuation, and charges in the region of £300 for this. The house is quite old, so I wanted a full building's survey. I was told, via return email, that "both basic and buildings survey" would cost a total of £500.

I've since had the surveyor call to say that they can't do a full buildings survey. They've passed me on to another company who will do the valuation at the pre-agreed price, but for the buildings survey they want £600 + VAT (far more than the independent survey quotes I received before choosing a lender). This leaves a total of over £1,000.

I contacted the broker, who has said that the price quoted was for the basic valuation and a home buyer's report. I'd clearly asked for a price for the "valuation with a full buildings survey", and the reply included the phrase "buildings survey", not "home buyer's report".

Is there anything I can do, based upon the fact that the information received appears to have been incorrect?

olly300

Nope.

The wording of the broker about the costs of other's services is not binding.

Your contract is with the actual surveyor who carries out the work.

lghw

Surely - given they're providing financial advice - the broker is liable to provide correct advice with regards to fees, etc?

olly300

lghw wrote: »

Surely - given they're providing financial advice - the broker is liable to provide correct advice with regards to fees, etc?

Nope.

The broker referred you to surveyor one saying the price is for this is £x. This is an estimate for surveyor one services. Only surveyor one can give you a quote for their services. Estimates are not legally binding.

Surveyor one referred you to surveyor two as they can't provide the services. Surveyor two said the actual price is £y.

lghw

Just to clarify: The cost quoted by the broker wasn't an "estimate" of the cost of the surveyor, but the broker passing on a figure set by the lender (as the £500 is fixed by the lender, albeit for the wrong type of report). It's then up to the lender to choose who they use for that £500, right?

kingstreet

We get a list of fees provided by the lender. It shows the basic mortgage report and valuation fee for a given property purchase price band. There may well then be a supplement payable if you want a Homebuyer's Report for your own benefit.

If you want a structural survey, you should be advised to contact a surveyor of your choice but that the cost will be in addition to the cost of the lender's valuation fee.

We cannot do more than provide an estimate of the cost of something with which we have no involvement. The key facts illustration sets out the stuff we are expected to get spot on.

lghw

Okay. Thanks chaps. :-)