To Survey or not to survey??????

Vok_2

Hi all,

Am in the process of a buying my first house and am using Mortgage Advisor. MA suggested I don't do a survey on the property because its just 20yrs old.

Please what are your thoughts on this?

Thank u

eddddy

Vok wrote: »

Hi all,

Am in the process of a buying my first house and am using Mortgage Advisor. MA suggested I don't do a survey on the property because its just 20yrs old.

Please what are your thoughts on this?

Thank u

One thought...

Is the mortgage advisor linked to the EA? If so, he/she is likely to be acting in the EA's interest, not yours.

i.e. if you have a survey and it shows up problems, the sale may be delayed or fall through - and the EA has to wait for, or loses, commission.

Vok_2

The MA dont work for the EA, he is totally independent and am not paying him either (he gets paid by the mortgage lender).

stator

Bare minimum you need a Home Buyer's Report.
A 20 year old property comes with no warranty, so you don't want to take a risk. When they build a large number of houses on a new piece of land sometimes the weight of it all causes the ground to move or slip. For a property that age with no signs of problems I would suggest that a Home Buyer's report is sufficient. They will highlight any obvious problems and suggest further investigation if appropriate. If there are any signs of problems get a full Building Survey from the beginning.

HPowell

A survey is very important according to me for older character properties. A thorough survey on your property means you have one person to call if there is a problem with the property of which you weren't aware.

goodwithsaving

Definitely get a survey. The house we're buying is 15 years old but I was still insistent on a HB report. Yes, it's £500 or so but you'd have to pay about £200 for a valuation anyway and the £300 could well save you money down the line or at least prepare you in the event of something coming up.

Out,_Vile_Jelly

Why skimp a few hundred quid on the most expensive and important purchase of your life?

robotrobo

Out,_Vile_Jelly wrote: »

Why skimp a few hundred quid on the most expensive and important purchase of your life?

Do all the suggested posts & also take a builder joiner friend around & let him have a sniff, and it's free, they know were to look & not bothered about getting dirty.

DaftyDuck

20 years old is exactly the age when a poorly-constructed house will begin to show expensive failures. I would settle for a Homebuyers' Survey, not a full structural, but I would certainly get one done UNLESS you feel confident on your building knowledge, have a spare fifteen thousand just in case, or expect to do a major refurb/extend job.

There were quite a few rogue newbuild houses erected in appalling haste in the 90's... in fact, there still are!

catshark88

Not having a survey done is a crazy false economy, IMHO.

It could have anything from a bit of damp due to a blocked gutter, to subsidence. Unless you are so rich that you are happy to potentially leave yourself exposed to a blank cheque's worth of repairs, get a survey done.

Vok_2

Hi, thanks for all you valuable advise.

@ Vile Jelly, I am not skimping as I already budgeted to have it done.

My reasons for seeking advise on this site is because my MA suggested it wasn't necessary because of the age. A friend that came with me to the viewing also said no need for survey.

But thank you all for your advice, very helpful.