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Full Structual Survey
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prioryclosegirl
Posts: 6 Forumite
We applied for a homebuyers report which obviously includes a valuation- however we have just heard that the lenders don't want to do a homebuyers as it is a listed building. So they are only going to do a valuation instead and have advised us to get a full survey done independently.
If we decide not to get a full survey done for the moment- does this impact negatively on the result of the mortgage offer? Basically are we more likely to be accepted if we have had a full structural survey done?
If we decide not to get a full survey done for the moment- does this impact negatively on the result of the mortgage offer? Basically are we more likely to be accepted if we have had a full structural survey done?
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Comments
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Having a standard valuation does not impact on the result of the mortgage offer.
The problem here is that the warranties under a Homebuyers Report will not cover Listed buildings - hence the valuer cannot proceed on a HBR.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Having a standard valuation does not impact on the result of the mortgage offer.
The problem here is that the warranties under a Homebuyers Report will not cover Listed buildings - hence the valuer cannot proceed on a HBR.
Thank you for your reply. I understand that having a standard valuation doesn't impact on our mortgage offer but does not having a full survey done also impact on it? If I understand correctly- it's our choice to have the survey so if we decide not to have it- is that ok or will it be frowned upon?0 -
no frowningI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
All a lender wants is its mortgage report and valuation carried out by its surveyor.
It is not interested in anything else.
Make sure the lender knows it's a listed building, in advance.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Whatever survey you decide to get make sure your surveyor is well experienced in listed/period buildings. The needs of a period house can be very different (and often opposite!) to newer houses.0
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Why aren't you having a full survey undertaken yourselves? To save money?0
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