Bank is doing a house survey should I also do one?

Sam_James

The bank are making a survey of the house to approve the mortgage, is this sufficient a survey to proceed with the purchase or should I complete my own survey. Would I be paying £400 for the same information?
Thanks
Sam

nattybuk

Is this a valuation or a survey?

Our bank carried out a valuation by a surveyor to see if the property was worth the security to the bank. We received a 1 page report with very little information.

A few weeks before our valuation we instructed our own building survey, eight pages long many pictures and a phone call explaining maintenance fixes and costs. Worth its weight in gold.

LRmortgage

Banks don’t do surveys, they do valuations for their own purposes.

This valuation should NOT be relied on as it is
a) not a survey
b) not for you