In short, NO !
A mortgage company will have a valuation on the property this is there to protect them, that’s all so that they can make the commercial call on the lending of finance.
It does not give you a condition report or advise of changes with the property and how they may impact on you or advise in any way remedial works needed that could down the line cause you problems and expense.
Get your own Essex Property Survey – It is money well worth spending
See the graphic below to see what you get when the Lender Surveyor comes to view the house.!!! its not a lot
| Help you make a reasoned and informed decision as to whether to proceed, reconsider or renegotiate on the purchase |
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| Identify potential problems such as any repairs or replacements the property needs including inspecting roofs, chimneys and other surfaces on the outside of the building from ground level |
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| Can help you negotiate a better property price Where problems are discovered or a lower valuation is given, buyers are enabled to negotiate a lower buying price |
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| Show traffic light ratings which give you a green/amber/red condition of your property in an easy to understand format |
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| Prepare you for potential costly repairs after you move in |
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| Completed by a Qualified Surveyor All Surveyors are fully qualified and highly experienced and Independent meaning you get a truthful Survey with now other agenda than giving you the information you need to know. Surveyors are Members of Rics, Sava and RPSA |
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| Independent valuation gives you a professional valuation of the property, helping prevent you from paying too much for the property |
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| Exhaustive report a more in depth survey on construction, issues and defects |
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| Appropriate for all properties a suitable survey, irrespective of age, construction type, condition and level of modification |
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| Highlights urgent issues Reports on any defects needing urgent attention |
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| On-going maintenance Professional recommendations on repairs and maintenance |
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| Building reinstatement Costs Included for insurance purposes |
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| Appropriate for standard property types Suitable for properties built later than 1870 of standard construction (brick and tile) |
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| Appropriate for unusual property types Suitable for a older, unusual constructed or extensively modified properties(e.g. extended) or those in need of modernisation |
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| Advice for your Solicitor Observations that may impact the legal title investigation conducted by your solicitor. |
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