Level 2 or Level 3 survey?

nimloth

We're finally proceeding with the purchase of our first home (after two months of the seller struggling to find a new place, suddenly the entire chain was in place within 24 hours of them putting their offer in )

Now that things can actually get moving (they weren't keen on us doing anything beforehand), we want to book a survey ASAP.

It's a standard suburban semi, built in the 60s, with no modifications and visually in good nick.

We do plan to extend it eventually, but it won't be for a good few years. 

Is it worth getting a Level 3 survey or would Level 2 suffice?

Thanks in advance!

ObserverOfLife

Is this part of your mortgage requirement? Mine did not require us to have a survey because we have a good LTV. 

We are in the process of purchasing a bungalow (1960 built too!) with a view to renovate, extend and convert loft in the next 12 months. I was quite insistent that we did not need a survey as I'm a pretty handy DIYer with tons of trade connections and any issues identified would be fixed during the build. However, the architect was adamant that we should opt for level 3 survey to ensure it can hold up for renovation work and that any snags can be incorporated within the building drawings at a later stage and he can draw around any potential issues. He also said that it's one of the biggest purchases of your life so why would you not obtain reassurance? On that basis, we are getting level 3 survey though I am buying the bungalow regardless of the report.

Each to their own but If you want merely a reassurance, I'd opt for level 2 but if you plan on extending soon then level 3 might be more useful but you mention you won't be doing this for few years yet. It'll be interesting to see what others think.

nimloth

ObserverOfLife said:

Is this part of your mortgage requirement? Mine did not require us to have a survey because we have a good LTV. 

We are in the process of purchasing a bungalow (1960 built too!) with a view to renovate, extend and convert loft in the next 12 months. I was quite insistent that we did not need a survey as I'm a pretty handy DIYer with tons of trade connections and any issues identified would be fixed during the build. However, the architect was adamant that we should opt for level 3 survey to ensure it can hold up for renovation work and that any snags can be incorporated within the building drawings at a later stage and he can draw around any potential issues. He also said that it's one of the biggest purchases of your life so why would you not obtain reassurance? On that basis, we are getting level 3 survey though I am buying the bungalow regardless of the report.

Each to their own but If you want merely a reassurance, I'd opt for level 2 but if you plan on extending soon then level 3 might be more useful but you mention you won't be doing this for few years yet. It'll be interesting to see what others think.

We've already paid for a basic valuation survey as part of mortgage application (which is now done and dusted) but would like to do our due diligence in case there are any obvious but not readily visible deal-breakers (say, knotweed). Anything smaller than that wouldn't stop us from buying either.

Just wondering if L3 isn't an overkill so I'm also interested in others' opinions

Tiglet2

I have moved many times and will always go for the level 3 survey on an older property.  Houses built in the 1960s are probably unlikely to fall down now, but foundations then were quite shallow and a level 3 survey may pick up signs of previous subsidence/heave.  Obviously there will be a lot of **se covering, but it will give you a good idea of the work that needs looking at in more depth than a level 2 survey will cover.

The basic valuation survey you have paid for is just for the lender to make sure the property is worth what they are proposing to lend to you, so they will be able to get their money back if necessary. 

carrotstick_2

A good surveyor should be able to inform you of the type of survey you'd require. I would call them up to discuss.

andyf1980

We had a level 3 on a 1930s bungalow we are buying. A level 2 probably would have been sufficient. We did then get a damp/wall tie and IECR electrical survey done. 

ABFG

I recently bought and one thing that was flagged on my survey was the possibility of asbestos being used. It was a 1970 build, so similar age to yours. I had a separate asbestos survey done afterwards, as I knew I needed to do extensive work that would be dangerous (expensive really) if asbestos was present. This may or may not apply to you, but I'd be surprised if they don't cover themselves on a property that age.

Tracet74

I've worked with various surveyors and a Level 2 would be more than sufficient.  If you also mention to the surveyor about your plans, they may be happy to have an informal discussion as to whether they spot anything which might preclude works.

owenjt

Go for a Level 3. This is the biggest purchase you've ever made and you're spending hundreds of thousands of pounds - why not spent a few hundred more to get a full survey to make sure everything is ok and give you the reassurance that you're making a sound investment?

I had a level 3 survey done on a property that looked in ok condition but it flagged a number of things I wasn't aware of including asbestos, issues with damp proofing, lead flashing and electrical issues. That purchase fell through but I'm having another level 3 on the new property even though it looks in far better condition.

lookstraightahead

Level 3. What's a few hundred quid in the whole scheme of things. Would you buy a car without it getting checked out? 

andyf1980

lookstraightahead said:

Level 3. What's a few hundred quid in the whole scheme of things. Would you buy a car without it getting checked out? 

That was what we did for that very reason. I’m not sure there is loads of difference between a level 2 & 3 though.