Yorkshire BS: Own valuation+survey or theirs?

DJ_Mike

We're in the process of applying for a mortgage online with Yorkshire Building Society. Wading through the long questionnaire, they ask at the end if we want to instruct them to value/inspect the property or use our own.

Presumably if we choose to do our own survey and valuation we must do this before applying? Even if we do this first, is it possible they would still insist on doing their own?

Is it worth just instructing them to do a simple valuation and then carry out own own Home Buyers Survey instead?

The house we're buying is a recent build (only 12 years old) so I don't feel like anything more than an HBS is necessary, just whether we should instruct a firm ourselves - I've read that the firm YBS use (Countrywide Surveyors) isn't great.

Dird

I've never heard of Countrywide Surveyors but I asked YBS to order the homebuyers report.

The report was done by Connells.

I think it's cheaper this way also? Else you'll pay £175 for their valuation then another £400 for a homebuyers report but if you just do it through them it's £400 for valuation + HBR

PixelPound

If you go direct you probably can get a HBS for less than £400. Another advantage is your lender doesn't see it.

Do you need a survey for 12yr old house?

GoldenShadow

My broker advised not using the lender. He said they often charge more.

Natwest do a valuation survey regardless, and we are paying for a Homebuyer's report costing £295 ourselves. Broker said lender won't know the contents if we get our own done too ie. Less chance of issues with funds.

DJ_Mike

The price of the house is £600k - it's a big place, so regardless of age I feel like a HBS is probably wise given if there are any serious defects I'd want to know about them before plunging in. It's £450 to get a simple valuation through Yorkshire BS, or £830 to get HBS + valuation. The first quote (waiting on some others) I've had for a separate HBS is £650.

Dird

Less than £400 perhaps but you still need to pay their survey fee. GoldenShadow's would be £295 + the £175 survey fee = more than £400 total

If the property threw up red light warnings on the homebuyers report then surely Mike (or anybody else) would not want to throw £600k at it? So I don't see the big deal of the mortgage provider seeing it (if they do, pretty sure they said HBR was only for me).

The thought process with mine as well was that the outside isn't that special but the inside was done to a high standard. I figured if the person doing the valuation was the same one doing the HBR then they would go in & see the high finish rather than just doing a drive by. Valuation came back at the asking price in my case

DJ_Mike

Delving deeper into YBS' terms and conditions, it seems they are only satisfied by valuations provided by a Surveyor on their approved list, and they also charge £55 + VAT for the privilege of using one, so I think we will just go with YBS' own survey. Thanks for the replies.