Offer accepted - Banks surveyor or find my own?

MinionDave

Hi,

Long Time Lurker but have been searching for ages to find a house and I now need a bit of advice please.

Had an offer accepted last week on a property that needs a bit doing to it - complete rewire, damp course, plumbing etc etc, my question is do I need to use the Banks Surveyor or would it be best to find my own ? Mortgage will be with FD

Thanks in Advance

Gonzo1987

You can do either. I'd shop around for quotes and see what you get from the bank versus going directly to a surveyor yourself.

hazyjo

The bank will need to instruct their own valuer.

If you're getting a homebuyer's report, it may be cheaper to get the same person to do that (usually they do both), or there may be a deal with your mortgage. If not, or if you want a full structural survey, you can instruct your own.

Jx

fishpond

Instruct your own surveyor.

bluesbell

I'm in the same position, offer accepted last week and mortgage with FD.

They're instructing direct valuations to do their valuation, I'm having my own survey done.

If you're applying for the fee free mortgage then I think it's a no brainer - the only benenfit I can see to use the same firm of surveyors is the cost saving as they can do both in the same visit, but if you're valuation is Free of charge then it won't cost you any more to have another independent pair of eyes on your potential purchase.

Good luck with your purchase.

Road_Hog

MinionDave wrote: »

do I need to use the Banks Surveyor or would it be best to find my own

Nooooooooooooooooooo!

Go nowhere near the the bank's surveyor. They will want to use their own surveyor for valuation purposes and let them get on with it. If it is E.Surv, they will turn up the other side of Christmas.

If you want to go for a more indepth survey, then get your own local surveyor. It;ll be cheaper, quicker and they'll be more responsive. If you like pain and enjoy the feeling of banging your head against the wall, then go with the bank's surveyor.

There are 3 types of survey, basic valuation, home buyer and structual.

TBH, I used to be in the middle camp and you're mad if you have a basic valuation. However, I've changed tack of recent. Today in our lawyers4U where there's blame there is a claim, most surveyors almost write off a property to cover themselves.

All properties need work done to them, the older the property the more work that needs doing. Just factor it into your offer and price accordingly. If a surveyor looks at a property and thinks anything needs done, he'll scrwam structural engineer report required. Total waste of money.

MinionDave

Thanks for all the replies, it needs a fair bit of work so I think I will go with the full structural report. Right - off to do some research on local surveyors to find a good one and I will be making a few phone calls tomorrow

Road_Hog

MinionDave wrote: »

Thanks for all the replies, it needs a fair bit of work so I think I will go with the full structural report. Right - off to do some research on local surveyors to find a good one and I will be making a few phone calls tomorrow

If you're going for a full structural, then get a structural engineer, they'll cost about the same, but the SE will do the job properly. If you have a surveyor, he might just decide to refer it to a SE anyway.