Getting a survey is a crucial part of the housebuying process. A survey will typically note a home’s construction and condition, any issues that need attention and the ongoing maintenance the property will require.
The survey is not the same as the lender’s valuation necessary when buying a house with a mortgage. The valuation informs the lender, while a survey informs you, the buyer, about the property before you legally commit to the purchase.
As well as understanding why it’s important, though, it’s equally vital to know who organises a survey when buying a house and, here, we’ve got all you need.
Survey options
You don’t have to get a survey on a property but it is highly recommended. Before doing so, however, you will need to pick which survey you want. For most properties two options are recommended: RICS level 2, which used to be known as the home buyer report or RICS level 3, formerly called a building survey; or the RSPA homebuyer/condition survey or the RSPA building survey.
“The RICS level 2 home survey is the most popular,” says Charlotte Whincup,a director of Bloom Building Consultancy, and a chartered building surveyor. “These are thorough but non-intrusive surveys – meaning that the surveyor won’t drill any holes, look behind furniture or lift up floorboards to look for problems.
“In other words, it’s a primarily visual inspection, which will catch obvious problems like cracks, rot or mould, but may miss underlying issues. If the home you’re buying is newer and in reasonable condition, this may be sufficient.
“If you’re buying somewhere that’s older, made of unconventional materials or you have doubts about the condition, it’s best to choose a RICS level 3 home survey,” she adds.
“These are much more comprehensive and use a clear rating system from one to three to help you identify any issues and their seriousness. You’ll receive an in-depth report on the property, its problems and what they mean. This includes timings and costs, plus information on what happens if you don’t make the repairs.”
Charlotte Whincup
Charlotte Whincup is a director of Bloom Building Consultancy, and a chartered building surveyor with a background in architectural environment engineering. Charlotte has extensive experience of working with properties in the high-end residential, industrial, commercial and retail sectors.
Who organises a valuation?
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A valuation is an important part of the housebuying process if you’re purchasing a home with a mortgage, but it’s important to remember why it’s carried out.
“The mortgage valuation is for the lender and not the buyer,” says Paul Blaking, direct mortgages manager at Suffolk Building Society. “It is very limited in scope and simply provides comfort to the lender that the amount they are lending could likely be recovered in a worst-case scenario.”
It’s easily organised. “A mortgage valuation is typically arranged between the lender’s chosen valuer and the estate agent acting for the seller,” says Paul. “If an in-person or drive-by valuation is required, the lender will instruct a local valuer. The valuer may then need to liaise with the estate agent, and in some cases the vendor, to arrange a convenient time to visit the property. In many cases, however, a desktop approach is all that’s required. This is because valuers now have so much information online at their fingertips, so they may not need to visit the property at all.”
Paul Blaking
With an extensive background in financial services, Paul Blaking has worked for over 12 years at Suffolk Building Society and is the society’s direct mortgages manager.
(Image credit: getty images)
Who organises a survey?
As a buyer, you should organise a survey of the home on which you’ve made an offer. “Homebuyers should be aware that they have a choice about who conducts the survey,” says James Ginley, director of technical surveying, e.serv.
“The estate agent or mortgage broker may have a recommended supplier, but the buyer can also book directly with an independent surveyor or a surveying company. Once the surveyor has been selected, they will make contact to arrange it and generally the estate agent will support them in gaining access to the property.”
While the valuation is for the lender, it can be possible to combine your survey with the valuation, or for the two to take place separately.
James Ginley
James Ginley joined e.surv in 2021 from Legal & General (equity release funding), having previously held the role of technical director at Legal & General Surveying Services. He is a Fellow of the Royal Institution of Chartered Surveyors (RICS), an expert in new build valuation and author of numerous RICS guidance papers. James is also member of the Equity Release Council Standards Board.
Combine your survey with the lender’s valuation
There can be an advantage to combining your survey with the lender’s valuation. “You can usually arrange a full building survey or homebuyer report to be completed at the same time as the mortgage valuation, although this may be dependent on availability in the locality of the property,” explains Paul Blaking.
“A homebuyer report, for example, is much quicker to undertake than a full structural survey, so it is advisable to tell the lender and your estate agent what type of survey you are considering as early as possible. By doing both within one booking and one visit, you may be able to save some money.”
Keeping the survey separate from the lender’s valuation
Keeping the survey separate from the valuation might be a better option in some circumstances.
“If you are in any doubt about whether your mortgage provider will lend on a particular property, it can be wise to do the valuation and survey in two separate stages,” explains Paul Blaking.
“This may be the case for older or listed properties, properties of non-standard construction, or properties that have been subject to extensive or structural alterations. By having the valuation first, you can be sure that the lender is happy to lend on the property. If they have concerns, it might not be worth paying for a full structural survey if you aren’t confident that you can get a mortgage on the property.”
Who organises a survey for an auction property?
If you propose to bid on a property at auction, it is up to you to organise a survey of the property before the auction.
“Auction purchases are contractually binding on the day; issues or defects discovered after that could be very costly,” cautions James Ginley. “For that reason, buyers should have a survey completed before making the decision to bid.
“Many surveyors offer expedited services for auction properties, working quickly to provide the insights you need to make an informed bid,” he says.
The surveyor’s appointment can be arranged via the auction house.
Be ready to organise a survey when you’re buying. “Lenders are increasingly doing desktop valuations of properties,” says Charlotte Whincup. “This is speeding up the mortgage lending process.” However, she points out that housebuying still isn’t quick. “Once you’ve chosen the property you want, I recommend you book a survey as soon as possible to get the ball rolling and ensure you don’t hold things up unnecessarily,” she says.
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