Which survey?

Lauralou79

What's the real difference between the home buyers and a full structural? The house we are buying is approx 80 years old so would like some form of survey.

Also if you use the mortgage companies does this drag out the offer process, would it be quicker to go independently?

Thank you

joshardy

I'm no expert but have been researching this topic myself - If your house is 80 years old I'd go for the full structural survey. The home buyers survey doesn't look that deeply (doesn't look behind walls or beneath carpets) and a lot of people claim that they contain so many caveats, that they're almost not worth it. The full structural survey, I'm lead to believe, gives you the most complete picture of the property you're buying (but is the most expensive).

I'd be wary of using the lenders surveyor, I'd want someone who works for me to do it. My lender's surveyor was booked and visited the property within 5 days of my mortgage application going in, but I went for the basic inspection but even that was overpriced in my opinion. It would have been cheaper to have a commissioned a home buyers survey rather than the lender's 'basic' survey!

Good luck, hope it goes well!

Lauralou79

Thank you for your reply
We are looking at the full survey, I just read that it's not always a in depth as you would expect. I don't mind paying for it if it's more thorough. We were going to use the lenders but I'm wondering if it would be quicker to go independently.

kinger101

joshardy wrote: »

I'm no expert but have been researching this topic myself - If your house is 80 years old I'd go for the full structural survey. The home buyers survey doesn't look that deeply (doesn't look behind walls or beneath carpets) and a lot of people claim that they contain so many caveats, that they're almost not worth it. The full structural survey, I'm lead to believe, gives you the most complete picture of the property you're buying (but is the most expensive).

I'd be wary of using the lenders surveyor, I'd want someone who works for me to do it. My lender's surveyor was booked and visited the property within 5 days of my mortgage application going in, but I went for the basic inspection but even that was overpriced in my opinion. It would have been cheaper to have a commissioned a home buyers survey rather than the lender's 'basic' survey!

Good luck, hope it goes well!

A full structural survey won't look under carpets or behind walls either. They'll do a few more things, but the difference is mostly in the presentation of the report. I can assure you all the caveats will still be there.

G_M

Re speed - ask! The lender will usually arrange the survey to happen at the same time as their Valuation. Have you asked when the Valuation will take place?

The advantage of using the lender's survey can be that by combing the Valuation with the survey only one surveyor visit is needed so it may be cheaper. Ask the lender for the prices of their surveys.

Then ring some independant RICS surveyors and ask for timescales and prices.

The disadvantage of using the lender is that it is possible the surveyor will spot an issue and the lender might then require a retainer on the mortgage. On a simple Valuation, their surveyor may well have missed the issue.

By using your own surveyor, the report goes straight to you only.

Lauralou79

Thank your for your replies. Our appointment for the mortgage isn't till Thursday. So I was just trying to work out which way to go. I've started contacting surveyors for quotes to compare prices with the lenders.
I did wonder wether to go seperate so not affected with the mortgage lender if any things wrong.
This house buying malarkey is so stressful and we've not even got the mortgage done yet! Hopefully if all goes well it'll be worth it.