Nationwide homebuyers survey or go elsewhere?

supersezzie

Hi everyone,

I'm in the process of applying to Nationwide for my mortgage and wondered if you have any opinions on whether to go for their own Homebuyers survey (at £425 inc valuation fee) or to pay £225 for thei valuation and go elsewhere?

Also, other people have said that the homebuyers wasn't much use and we should go all or nothing with the survey. Does anyone have any opinion on this? I'm trying to save fees where possible but obviously you get what you pay for!

Thanks very much,

Sezzie :beer:

cattie

What is it you're buying, house, or flat & how old is the property? These things can be important when deciding.

If it's quite an old property then always go for the full buildings survey, more costly, but can save you money in the long run if it identifies problems that can't be seen by the layman.

If a new/ish property then a valuation would be OK as far as I was concerned but anything older than say 25-30 years I'd be inclined to go for the Homebuyers. I agree that the Homebuyers survey isn't always much use, but it can help to identify some problems that might help you renegotiate the price down.

By going with your lenders surveyor you will save money. He will carry out the valuation at the same time as doing whichever survey you chose to have.

supersezzie

Hi Cattie,

Thanks for that. It's a maisonette in a block of 4 (ie two semi-detached houses but purpose bult as 4 flats), built in around 1970. It's leasehold, with buildings insurance shared between he four flats.

Survey with Nationwide looks to be the best option I think, providing they will do a good job!

StevenMarks

I got a homebuyers via Nationwide recently when applying for a mortgage. It seems a fairly complete report and does highlight a number of (minor) issues that will need to be dealt with.

Happy that I spent the money to get it as none of that stuff is something I'd have ever spotted (I'd have no idea what to look for).