Valuations - Chelsea BS

sarah8586

I've just applied for a mortgage with Chelsea BS and paid £330 for the basic mortgage valuation.

I'm now thinking about whether to get a homebuyers survey done as well - the house is 15 years old.

I can either get this done through Chelsea or get someone independent.

Would an independent homebuyers survey include a mortgage valuation? I have been quoted c.£400 for an independent homebuyers so I imagine this would be cheaper than going via Chelsea for homebuyers if it includes a mortgage valuation. But would Chelsea accept a mortgage valuation from someone else?

Are there any pros/cons for getting the homebuyers from Chelsea rather than an independent?

AFK_Matrix

Yes Chelsea should let you get an independant suveryor in as that's what I did and had no hassle with it at all.

I got an independant person in mainly because he was a friend of a friend and so got a good price and also I can trust that he is working for me and not the lender. Although it should be fine going through Chelsea BS and I was probably being a bit parnoid, but the price was good so that was the main reason.

hazyjo

They will still have to do their own valuation. Check out what they charge to 'upgrade' to a homebuyer's report vs paying for an independent homebuyer's.

Personally, have always just used the mortgage provider's standard one.

Jx

GenD

My last 2 mortgage applications have been to Alliance & Leicester, and they charge a compulsory £299 for their own valuation, or you can choose to upgrade it to a Homebuyer's Report for £460 in total, so that's what I've done both times - as I had to pay them the £299 anyway, so it seemed silly to then fork out an additional £400 to another company for a separate Homebuyer's Report. I would imagine most lenders offer something similar, but if there's no fee for their valuation then of course you can go with anyone you want for the survey.

dominoman

I am also getting my mortgage through Chelsea. I am getting a full structural survey (buildings survey) done which includes a valuation. Chelsea won't accept that though so are charging me an extra 450 for their valuation.

I expect it will be the same for you, so if you can I would just upgrade to the home buyers survey with Chelsea.

jee

I think that with a house being only 15 years old you should be able to see most problems yourself.
If you do want one try and upgrade your basic valuation. But tbh I wouldn't waste my money.

dominoman

jee wrote: »

I think that with a house being only 15 years old you should be able to see most problems yourself.
If you do want one try and upgrade your basic valuation. But tbh I wouldn't waste my money.

Totally agree.

Riggster

I wouldn't be bothered with anything more than a basic valuation if the house is only 15 years old.

BUT, if you do decide a homebuyers report or full structural survey is what you want, I'd suggest having it done through your mortgage provider because :-

a, its cheaper to have one report done rather than a mortgage valuation and an independent survey.

b, as my conveyancing solicitor pointed out, your mortgage lender is more likely to have a very thorough, unbiased, trustworthy homebuyers report or full structural survey done, as its in their interests!