Property Valuations & Surveys

Valuations

All building societies are required by law to undertake a valuation before making a mortgage offer on a property (the same does not currently apply to banks, although almost all will require a valuation). A valuation is not a survey, it is a property inspection undertaken for the sole purpose of deciding on the amount and terms of any loan. Buyers can expect to pay for a valuation to be carried out and are usually given a copy of the report. However, the extent of the inspection is very limited when compared to a survey and no potential buyer should rely solely on the information provided by a mortgage valuation when deciding whether or not to buy a particular property.

A Homebuyer Survey and Valuation (also known as an HSV/HBSV or Homebuyers Report)

A Building Survey.