Home buyer survey- independent or mortgage company??company

ShadyEssence

I think last time I bought a home (I was a first time buyer) it was my mortgage provider provider that did the survey when they where doing the valuation. Is this common or should you use an independent surveyor.

Just had my offer accepted on a house and the chain is completed (I have a FTB they're moving into an empty property) should I start looking for quotes for a survey and think about booking it, should I wait, do I ask my mortgage provider of they will do a survey when I apply in the next day or so?

Voyager2002

Ask your mortgage provider what your options are. This is such a standard question that it is not worth typing out the advice you will be given, which you can find anywhere if you look.

propertyrental

Pros and cons.

Often it's cheaper for the lender's Valuer to do the survey as he's already halfway to job-done by virtue of the valuation. But that depends what the lender will charge you. So ask.

There are anecdotal suggestions that if the survey turned up something that a) would not put you off but b) might put the lender off, it could affect your mortgage. If you do an independent survey, the lender won't know whereas a joint valuation/survey would go to the lender....

Plus with an independent survey you can choose your surveyor, discuss any specific requirements you have in advance, and it might even be cheaper- you won't know till you get quotes.

housebuyer143

As above. Have seen on here people having their mortgage offers pulled or suspended until work from the survey is done.
If you go independent you can choose if you want to share that info, rather than being forced.