You are here:

Home
Conveyancing & Landlord & Tenant

Property Surveys.

Mortgage valuation - RICS Home buyers report - Full Structural Survey

Once you have found a property it is advisable that you have a Valuation/Survey undertaken on the property - you have three choices

The most popular is the standard mortgage valuation - why is it the most popular? perhaps its because this is all the mortgage company ask for or its the cheapest at a very expensive time, but could this be short-sighted on the buyers part?

The problem with the mortgage valuation is that it is very basic, it will not highlight if the property is structurally sound, or any other problems, it will do just what it says - give you a valuation.

If it is important for your own peace of mind to understand the condition of the property better, there are two more in-depth options.

The most popular of the two is the Home Buyers Report licensed by the RCIS (Royal Institution of Chartered Surveyors) The report was revamped in 2010 to become more user friendly, whilst still wordy (around 25 pages) it has improved on the jargon it uses and adopted a traffic light system which ranges from Green - no repair to RED - URGENT INVESTIGATION !!

The report is brilliant for giving you peace of mind in what you are buying and if the report does show up and defects it will help you negotiate the price, the Home Buyers Report will also contain a valuation for your mortgage company.

Just a note of cation - please check that your mortgage company is happy with the surveyor you plan to instruct, some mortgage companies will only accept valuations from their own panel of surveyors.

A smaller report can also be commissioned called a 'condition report', this is useful for sellers when they go to market their property, generally, so they can fix any problems for a buyer in advance, this report does not include the mortgage valuation.

The final report is the Full Structural Survey, this is 'warts and all' report, it will cost you more but no stone is left un-turned!.

What report you choose may depend on the property, if you are looking at buying a 15 yr old property on an estate you may be happy with the mortgage valuation, however, if you are looking at buying a property that has vegetation on the inside, as a 'project' you may be best advised in having a full structural survey.

Whatever you do take advice.

related news

Agricultural Law.

Aviation Law Solicitors.

This is a highly specialised area of the Law and covers both aircraft and their facilities as well as many other areas detailed here.

Charity Law Solicitors.

As a charity it is important to understand your legal obligations and rights, a Charity Law solicitor swill be able to help with this, find Charity Law Solicitors from Solicitors.com

Civil Liberties and Human Rights | Solicitors.com

Solicitors.com - if you are looking to take action under the Human Rights Act, understand your rights and how a solicitor can assist you.

Construction and Civil Engineering Law | Solicitors.com

Consumer Law, Consumer problems.

We have produced a few guides to help you but would recommend that you speak to a solicitor as all situations are different.

Education solicitors | Solicitors.com

Travel & Tourism Law Solicitors.

Holiday Claims.

Mental Health Solicitors.

News and Information on Mental Heath legal issues.

Property Abroad.

If you are looking to buy a property abroad you will need expert legal advice, this section details services provided, and offers guidance on how to find a solicitor for your needs.

recent articles

Flying Freehold

What is a Flying Freehold and should it matter?..

link

Selling a house, what do I need to declare?

As part of selling a house or flat in England and Wales you must make sure anyone buying is aware of problems with the property...

Guide to Restrictive Covenants.

Restrictive Covenants.
Restrictive Covenants on a property will affect what you can do with your property, and can be applied to private or commercial property..

Your rights as a Tenant

Tenant Rights. As a tenant, one of the most important steps to protecting your tenure is to take advice before you sign any agreement, any Landlord and tenant s..

Government to introduce New Homes Ombudsman

The government announces a New Homes Ombudsman to protect consume..

link

Understand Conveyancing Quotes

When you look for a conveyancing solicitor to act for you we recommend that you contact a few to compare price, obviously price is not the only factor you look..

Property Ownership.

Property Ownership - Tenants in Common or Joint Tenancy?
Buying a property with a friend or partner, is one of the most exciting things but, with a house purch..

Help to buy ISAs

Help to buy ISAs - The new, 'Help to buy', ISA is designed to help first time buyers save for a deposit for their first home, with the inducement of an extra 25..

Tenancy terms reviewed.

Minimum rental terms of three years could be introduced under new..

link

Will property conveyancing change.

The Government push to improve conveyancing...

Planning Law Solicitors

Planning Law Solicitors. Planning Law solicitors will undertake all aspects of Planning law...

Energy Performance Certificates

Energy Performance Certificates. Domestic and Commercial properties that are available to buy or rent must have an Energy Performance Certificate (EPC). What a..

Is there anything wrong with this page? - any amendments will receive accreditation - email us

Solicitors.com are not a firm of solicitors, and any content on the site should not be used in substitute for obtaining Legal advice from a solicitor regulated in the UK, Solicitors.com recommends that you contact a firm of solicitors to discuss your individual legal requirement. Whilst we strive to bring you accurate up to date content, all content on this site is not legal advice and is not guaranteed to be correct. Use of this site does not create a client relationship.

Information by area of law

Conveyancing Solicitors.

Step by step guide to help you understand the process of Conveyancing and moving.

Criminal Solicitors.

We have put together a few guidance notes for your help with Criminal law matters, if you require a solicitors please use the search facility or ask a question.

Commercial law.

If you are looking for a commercial solicitor understand your options by contacting one of the 100s of commercial law firms on solicitors.com

Clinical or Medical Negligence Solicitors

If you are considering making a claim for Medical Negligence understand your rights and the process, find a medial compensation solicitor via solicitors.com.

Personal Injury Claims.

If you have suffered an injury and are looking to make an accident claim for compensation, understand how a personal injury Solicitors can help make you injury claim for you.

Debt Collection Solicitors.

The amount of money owing may dictate the route you take to reclaim your money, we recommend that you discuss your situation with a solicitor, or you can call the CAB on 08454 04 05 06.

Dental Negligence Solicitors

To undertake a dental negligence claim you must have sustained an injury or damage, as a result of the dental treatment understand the options available to you.

Employment Law Solicitors.

Employment Law Solicitors for Employeees.

Family Law Solicitors.

Family Law Solicitors can help you resolve the problems which may arise in the break-up of relationships, including financial issues and matters concerning any children.

Motoring Offences Solicitors.

Will be able to assist on all areas of Motoring Law for Example Drink Driving, Dangerous Driving, Careless Driving, Totting Up, Speeding, Driving Without Insurance motor offences.

Will & Probate

Find a solicitor that can assist with wills, probate and estate planning in your area.

Tenant Solicitors

Tenant solicitors will be able to help with any housing related problems.