If you're thinking of buying a home, you want the peace of mind that you won't find any nasty surprises after you have moved in. You also want the reassurance that you are paying the right price for the property. Although you may have to pay for a mortgage valuation report, this is prepared for the benefit of the lender, not for you. You cannot rely on this report to give you a detailed picture of the property.

Both the Consumers' Association and the Council of Mortgage Lenders recommend that you should arrange an independent survey by a chartered surveyor. An independent survey is an impartial "health check" of the property which could save you money. If the survey uncovers serious structural problems, you may be able to renegotiate a lower purchase price to reflect the cost of any repairs or remedial work.

You have a choice of three types of survey:

  • The Homebuyer Survey gives you an informed judgement on whether to proceed with the purchase, indicates a reasonable purchase price and outlines any action you should take before exchanging contracts.
  • The Building Survey (formerly known as a structural survey) gives you an in-depth report on the construction and condition of the property.
  • Limited reports can be the same as a Building Survey but limited to reporting on certain elements of the building, such as walls, roofs and floors. Alternatively, it can be a schedule, listing certain defects or recording the condition of the property.

The table below shows the main differences between the three types of survey.

HOMEBUYER SURVEY BUILDING SURVEY LIMITED SURVEY
Type of property

Conventional houses, flats, bungalows built after 1875 in apparently reasonable condition.

Any residential or commercial property, in any condition, particularly older properties, properties of unusual construction, dilapidated or extensively-altered properties.

Any form of building in any condition.
Type of service

Economy package in standard form.

Tailored to your individual needs.

Limited to certain elements, purpose or problem.
Objectives of Service To help you to: To provide you with: To provide you with:

Make an informed judgement on whether or not to proceed.

Decide whether or not property is a reasonable purchase at agreed price.

Assess urgent and significant matters before exchanging contracts.

Detailed assessment of construction and condition of property.

Technical advice on problems and on remedial works.

A detailed report on the main structural elements, say the walls, roof and floors.

A specific report in connection with a full repairing lease, such as a Schedule of Condition.

A report on a specific problem, eg cracking and subsidence.
Special features

Focus on urgent and significant matters.

Details of construction/ materials/defects, costs of work.

Limited to certain aspects of the property, to provide an economic alternative to a full Building Survey, or to provide a report in the form of a Schedule.
Valuation

Included as integral part of Homebuyers Survey service.

Included in most cases.

Not usually provided.
Form of report

Compact, standard RICS format.

Usually much longer, in our own format.

Tailored to your specific requirements.

For more description of the types of report available just click on the style of report at the head of each page

Conditions of Engagement

 

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