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Do we have to use bank's surveyor ?
tanikk£
Posts: 50 Forumite
We are in the process of buying a flat and need to have the HomeBuy survey done soon. Our mortgage lender charges J660 for this type of survey, but I found that "market" price should be around J400 ..the question is - can we appoint an independent surveyor to do the job or bank will not allow us to do so ?
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Comments
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You will have to get the basic survey done through your mortgage lender. You can get your Homebyers report done by anyone you want to, as that is your's, rather than the basic report, which is the bank's. Bear in mind that the £660 the bank charge you will include the cost of the basic survey, so if they charge, for example £350 for a basic val and you get the Homebuyers report done yourself, you'll have to pay out £350 and £400. HTH!0
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Please be aware that the mortgage valuation is not a survey, even a basic one. There are only 2 surveys, the Homebuyers Survey & Valuation and the Building Survey (full structural survey). In theory you should be able to commission your own independent survey (obviously the valuation is done by the lender) but some lenders do insist you use their panel surveyors for either of the other surveys so you need to check. If you can have your own survey done I would suggest you do.0
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