Most homebuyers assume that the lenders’ mortgage valuation is a survey – far from it!

A recent study shows that although 80% of homebuyers thought that getting a comprehensive survey on the home they wanted to buy was a good idea – only about 20% decided to get one. Other people are reluctant to spend the extra amount on getting a comprehensive survey done before purchasing a house.

All the professionals involved in house buying – including mortgage lenders, financial advisors, solicitors and conveyancers – advise that a home buyer seek an expert home survey about the property before purchasing.

This is worthwhile because according to an earlier study about 1 to 4 buyers who didn’t have a survey spent over £2,500 in repairs!! 1 in 10 spent over £10,000 in fixing critical defects which is likely to have been detected in one of our surveys.

Conversely – those homebuyers who had a survey were able to negotiate an average reduction of £2,000 in the property purchase price.