{"id":19579,"date":"2018-03-22T10:15:10","date_gmt":"2018-03-22T09:15:10","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19579"},"modified":"2022-04-12T11:57:20","modified_gmt":"2022-04-12T10:57:20","slug":"add-value-home-4","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=19579","title":{"rendered":"Why don’t four in five home buyers bother with a survey?"},"content":{"rendered":"
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Crescent homes in Bath<\/figcaption><\/figure>\n

Mortgage lenders don’t insist that you commission a survey before they will lend you many of thousands of pounds to purchase your new home. But when the financial investment you make in your home is often worth as much as you can afford to pay for it, the question is: why not?<\/p>\n

Lenders carry out their own Valuation Survey but this is not shared with the home buyer and is designed simply to assess the risk to the lender. Many believe that the mortgage lender’s Valuation Survey provides sufficient information for them to assess the building’s condition but it doesn’t.<\/p>\n

The Valuation Survey will say nothing about a building’s state of repair.<\/p>\n

An independent Chartered Surveyor can carry out a survey that will ensure there are no serious faults with your new home, but buyers still often take the cheapest survey option, that is less comprehensive and could miss crucial details.<\/p>\n

Sellers in Scotland have to provide a Home Report when they put their home on the market, unless the property is a new build or a building that has recently been converted for residential use. The Home Report must be completed by a Chartered Surveyor, and comprises:<\/p>\n