miss-selling of survey

Erik6

Hi,

I bought a house and was very annoyed that something wasn't picked up on in the survey that will cost me a lot of money to rectify, and now feel that the survey was miss sold to me. The Financial Ombudsman has said that they can't do anything as survey is not a regulated product.

I was told by the bank that they would sell me a homebuyers survey for £675. For advice if this was the right survey I should get advice from their survey firm - Firm A. Theey also said Firm A would carry out the survey.

Firm A told me that the Homebuyers survey is a comprehensive survey and appropriate given the description of the house I gave them - vacant for a very long time, looked very run down etc etc.

Paid the bank for the survey and got survey back please with result bought house. Moving in discovered wood boring insect and damp. Did cross my mind at the time of buying but survey was carried out by another firm - firm B.

I complain. Bank states not their problem. Firm A states not their problem. Firm B states your not our client and anyway the survey carried out was "extremely limited".

Taking to Firm they maintain the product I was adviced to by from them was comprehensive. Firm be maintains it "extremely limited. RHICS tells me that both can be true as different firms carry out surveys to a different level.

I don't believe my survey can be extremely limited and comprehensive - doesn't make sense.

Financial Ombudsman complaint made after bank made it clear they want nothing to do with it, even though I paid them. The Financial Ombudsman states that the product isn't financially regulated therefore I'm on my own.

Just so you know I did also complaint to the Ombudsman property before you ask - they first said I can't complain as I am not the client - the Bank is. They have however said that they will look into it.

Am I really on my own? Do I have to go to the small claims - the sum involved is about £1000

Full_of_angst

OP, how long did the surveyor spend carrying out the survey and how long (in pages) was the actual report?

The reason why I ask is that I have organised an independent RICS surveyor to go out and survey a property I'm in the process of buying. I spoke to him about the type of survey I should have and indicated that I would like a building survey carried out. He said that most HB surveys carried out on behalf of banks are woefully inadequate and that the reports are on average 6 pages long. He suggested that a HB and valuation survey would be more than adequate for the majority of houses but only IF it was done properly, and it should take about 3 to 4 hours inspecting the property and the report should be about 35 pages long. He emailed me the RICS service outline for both the HB and the building survey, and pointed out that there was not a great deal of difference. He said he only usually carries out a building survey for very old period property, or when he knows the clients are planning extensive renovations OR when on arriving at the property discovers something which would/could be a major issue (and would then phone the client direct to suggest upgrading to building survey and often organise a structural engineer or other appropriate professional to come along to inspect along side which would be supplementary to his report. So tomorrow, he will be carrying out my HB and valuation survey which will take him 3 to 4 hours onsite and will have a list of questions for information he will be asking of the vendor. He also has taken a list from me of specific things I'd like him to look out for. He indicated that his HB report will be somewhere in the region of 35 pages.

This all sounds very similar to what my buyers had carried out last week - which was a full building survey carried out by an expert in conservation, English Heritage and specialised in graded listed buildings. He was a joy to have around as he so clearly understood issues in period property which when put in context are not issues at all. As I'd always believed, surveying period properties, specifically listed properties need a special type of surveyor (and that's a whole other thread).

Long post, I'm so sorry OP, I was trying to differentiate between an independently commissioned surveyor and one who is commissioned by the banks and probably are on a tighter schedule with a revised service remit and a contract with the bank, not the actual buyer.

May have to edit as have just taken half a sleeping pill given by my GP (the stress is really getting to me :eek: so need a bit of flower power and zen. :A
^^^
Just as I said - Have edited as had answered two separate posts in one! Lie down in darkened room beckons


Kind regards
Full of angst

G_M

Mis-selling?

For goodness sake! Take a bit of personal responsibility!

You were buying a propert for £X00,000. You had to make some choices as to how to do this:

* employ a solicitor or do the conveyancing yourself?
* which conveyancer/solicitor?
* get a survey doneor relyon your own inspection?
* choose surveyor
* decide level of survey
* etc

These are all down to you to decide, and if appropriate, pay for.

Different people will make different decisions, depending on their levels of skill, attitude to risk, type of property involved....

Sure, others can give advice/make suggestions (eg the mortgage lender, financial advisor etc) but in the end it is your choice. and your responsibility.