Homebuyers report or not!

mummy2014

Hi All

We are buying our first house its a 1970's ish house.
Do I need an additional home buyers survey or is the mortgage one ok?

Many thanks

Bollo2019

I'd recommend a homebuyers at the very least. If you don't have an eye for the types of issues you might have with a property then it's a good reference for either assessing the work you might want to carry out when you buy or even negotiating the price prior to purchase.

Surrey_EA

What the mortgage company do is not a survey, it's a valuation to assess whether the property is suitable security for the loan they may offer, in the event you stop paying the mortgage.

A visit from a mortgage valuer will typically last 10-20mins, if they actually go inside at all.

If you're not sure what to look for, a homebuyers should be the minimum you expect to have carried out.

G_M

Up to you.


* What levelof risk are you happy with?
* how much do you (want to) know about the property, it's condition, it's required upgrades/maintenance?
* do you (or your mate/dad/partner) have any knowledge of buildings? Could you spot issues?
* what condition is the property in generally?
* are the electrics original 1970s or have they been upgraded?
etc etc

KatieDee

For the cost of a homebuyers report, I would definitely recommend it. It can highlight things you never noticed during your viewing and may give you an estimate of any works are needed and the cost of this. More often than not, this is more than the amount you're paying to find out