Survey findings - if lender doesn't know can you not tell them

letom

You're confusing who is actually buying the property and shouldering all the risk, it's you not the bank. If the survey is coming back badly then you are taking in that risk (the bank also but they have the deposit cushion, which you do not).

Trying to flip a flat with lots of issues without fixing them is pretty stupid, not least because as a poster above mentioned you're going to rebase the flat at the lower value anyways...

Think less about what you need to tell the bank and more about is this risk worth taking yourself.

prowla

letom said:

You're confusing who is actually buying the property and shouldering all the risk, it's you not the bank. If the survey is coming back badly then you are taking in that risk (the bank also but they have the deposit cushion, which you do not).

Trying to flip a flat with lots of issues without fixing them is pretty stupid, not least because as a poster above mentioned you're going to rebase the flat at the lower value anyways...

Think less about what you need to tell the bank and more about is this risk worth taking yourself.

I think they're hoping to sell it to someone who doesn't do the survey and thus subsequently finds out the issues for themself.