Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • BSW89
    • By BSW89 10th May 18, 9:17 PM
    • 31Posts
    • 11Thanks
    BSW89
    When do we start thinking about surveys?
    • #1
    • 10th May 18, 9:17 PM
    When do we start thinking about surveys? 10th May 18 at 9:17 PM
    Hi,

    First-time buyer here, just had an offer accepted. I've been speaking to a mortgage advisor and am currently getting quotes for conveyancers, but when it comes to the survey I'm a little lost.

    We're buying a fairly normal flat in good condition, don't anticipate doing any major work. From what I've read we should probably get a homebuyer's survey (in addition to the bank's survey).

    Should we be looking for a surveyor immediately and getting the ball rolling or wait until we've progressed with the mortgage and found a solicitor?

    Sorry - probably seems a silly question but this is all new to me!

    Thanks
Page 1
    • hazyjo
    • By hazyjo 10th May 18, 9:32 PM
    • 11,096 Posts
    • 14,636 Thanks
    hazyjo
    • #2
    • 10th May 18, 9:32 PM
    • #2
    • 10th May 18, 9:32 PM
    Your lender will probably give you the option to extend the valuation to a homebuyers report. Will prob be substantially cheaper.
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes; Thai cooking stuff; Jo Brand talk; Slime Factory; Flawless tickets; Comedy night tickets
    • kinger101
    • By kinger101 10th May 18, 10:14 PM
    • 4,490 Posts
    • 6,228 Thanks
    kinger101
    • #3
    • 10th May 18, 10:14 PM
    • #3
    • 10th May 18, 10:14 PM
    You shouldn't arrange anything until the chain is complete. Otherwise, it makes sense to get the survey done early (unless you think there is a significant risk bank will say no).

    The option to use the banks valuer is usually good, though it does increase the risk they refuse the mortgage or add conditions which might become difficult to resolve.
    • cloo
    • By cloo 11th May 18, 9:35 AM
    • 1,126 Posts
    • 1,142 Thanks
    cloo
    • #4
    • 11th May 18, 9:35 AM
    • #4
    • 11th May 18, 9:35 AM
    Yes, wait until chain is complete and things are definitely going ahead.
    • SG27
    • By SG27 11th May 18, 10:33 AM
    • 2,524 Posts
    • 1,767 Thanks
    SG27
    • #5
    • 11th May 18, 10:33 AM
    • #5
    • 11th May 18, 10:33 AM
    1, find solicitor

    2, apply for mortgage

    3, get survey
    • FTBlalala
    • By FTBlalala 11th May 18, 11:00 AM
    • 29 Posts
    • 52 Thanks
    FTBlalala
    • #6
    • 11th May 18, 11:00 AM
    • #6
    • 11th May 18, 11:00 AM
    FTB here too, we did ours what some would call backwards I guess.

    We got an AIP, offer accepted, instructed solicitors (not searches just yet), memo of sale received by all parties, had Building Survey done, survey cam back and we were happy with the results, instructed to start searches, full mortgage application submitted, searches complete - solicitor reviewing, mortgage offer received, all the paperwork from the solicitor (results of searches, lease info etc) sent out to us, now just waiting to receive that.....

    There were a few things we were unsure about the property (not deal breakers just needed to know full extent) so we decided to get the survey done first before getting all the searches and mortgage sorted for that specific address. Just in case the survey indicated it wouldn't be worth it.
    • jonnygee2
    • By jonnygee2 11th May 18, 4:21 PM
    • 457 Posts
    • 454 Thanks
    jonnygee2
    • #7
    • 11th May 18, 4:21 PM
    • #7
    • 11th May 18, 4:21 PM
    We're buying a fairly normal flat in good condition
    When was it built? It might not always be worth getting a survey done really. If it was 80s or earlier, it might be worth it to check for asbestos etc.

    If it's relatively new and part of a purpose built block of flats, you can book a couple of the hours at the property and do it yourself. Try this for guidance https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/diy-quick-check-survey-for-house-hunters/ . Money saving! There's very little for a professionaly surveyor to do in a purpose built, modern flat imo.

    This doesn't apply if it's part of a converted house or something like that - on that I'd get an actual survey done.
    • ric1982
    • By ric1982 11th May 18, 5:29 PM
    • 190 Posts
    • 31 Thanks
    ric1982
    • #8
    • 11th May 18, 5:29 PM
    • #8
    • 11th May 18, 5:29 PM
    Yes, wait until chain is complete and things are definitely going ahead.
    Originally posted by cloo
    How do you confirm is the chain is complete other then just ask EA/vendor with some verbal confirmation, isnt it?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,233Posts Today

7,251Users online

Martin's Twitter