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Bank is doing a house survey should I also do one?
Sam_James
Posts: 15 Forumite
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
Thanks
Sam
0
Comments
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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.0 -
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 youI am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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