Property

According to recent research only 20 per cent of people commission a professional survey, in part because many think the mortgage lender’s survey is sufficient (it’s not; it is simply a mortgage valuation and will not point out any structural defects). Arranging a survey is vital and could save you money in the long term, providing impartial advice.

The Royal Institute of Chartered Surveyors has more than 80,000 members who work to the highest standards offering the best advice on property (as well as land, construction and environmental issues). There are two types of survey: the Homebuyer’s Report and the Building Survey. The Homebuyer’s Report is for properties that are in seemingly good condition and are less than 150 years old. This type of survey focuses on urgent problems, assesses whether the property is worth the price and clarifies what actions should be taken.

A Building Survey is more thorough and will include details of major and minor defects and the implications of them. This type of survey is suitable for older properties or buildings with unusual structures and extensions. Although more expensive (expect to pay from £400) these surveys will unearth any major or minor structural problems. The RICS website (www.ricsfirms.com) has a survey-finder service, whereby you simply type in your postcode and it will come up with a list of RICS approved surveyors in your area.

The Royal Institute of Chartered Surveyors
Can put you in touch with a reliable and certified surveyor.
(www.rics.org).

Surveyors Countrywide
(0870 600 1500/www.cwsurveyors.co.uk).
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