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Which Property Survey in Birmingham?

What is a Property Survey?

In terms of property surveys available to customers, there are 3 main types. Here we will include insight and knowledge provided by our expert mortgage advisors in Birmingham. Looking at our experiences from past mortgages in Birmingham, we will do our best to find the most appropriate route for you on your journey.

When you apply for a property and have an offer accepted, the next job to undertake is establishing what condition the property is in. When you do this, you are ensuring that the cost of it is worth what you’re planning to pay for it.

If you discover something on your survey, by law you are allowed to approach the seller and work out an alternative price if necessary.

Mortgage Valuation

Mortgage valuations are the basic types of valuation, something that is required for you to secure a mortgage offer. This is not to be confused with a full property survey. Your mortgage valuation is a confirmation to the lender that the property is worth the amount you are asking for.

Your valuation will not point out any repairs that need looking at. However it can inform you of obvious defects that might require a further look. To go forward with a further investigation, you will be required to pay.

Homebuyer’s Report

A homebuyers report will look at the safety of the structure, making note of any problems such as damp and anything that does not pass the current building laws. This will be an independent report from a property expert.

So you do not end up paying for two surveys, it is recommended that you get in touch with a surveyor that either works for or is recommended by the mortgage broker/company. These surveys usually take a couple of hours to complete.

Full Structural Survey

These types of survey are advisable for buildings that are quite old and those that aren’t of standard construction. Depending on how big your property is and what type it is, full structural surveys can take as long as a whole day to complete.

Full structural surveys provide detailed reports on what condition a property is in, as well as highlighting any issues that require a further investigation before you move forward with a purchase. This will provide you with peace of mind about what condition your property is in, something that can take the stress away whether you’re a first time buyer in Birmingham or moving home in Birmingham.

You can obtain the services of a surveyor to carry out a Homebuyers report or building survey through the Royal Institution of Chartered Surveyors.

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