Building Societies are recognised by law to undertake a valuation before making a mortgage offer. Currently most banks also require a valuation before funding a property purchase.

A valuation is not a survey, it is an inspection undertaken for the purpose of deciding the amount and terms of a loan.

The inspection is limited and no purchase should rely solely on the information provided by a mortgage valuation.

Surveys:

Homebuyers Survey and Valuation

Intended for homes as detailed below

• Conventional  in type  and construction
• Apparently  in reasonable condition

Focusing on essentials:  defects and problems which are urgent or significant and that have an effect on the value of the property. The main objective in this is to assist the prospective homebuyer to:-

• Make a reasonable and informed judgement on whether or not to proceed with the purchase
• Asses and compare comparable prices
• Assists with decisions and actions which need to be taken prior to commitment to purchase
• Professional opinion on particular features which affect present value and may affect marketability

Building Survey

Suitable for all residential properties and provides full picture of construction and condition. More comprehensive then homebuyers report. Details of the whole range of defects major and minor.  A valuation is only provided as an extra –by agreement.

To discuss the various Valuation/Survey options please call Reference Services number 028 2827 9477 or use the form under the "Contact Us" link.