There are several types of property surveys available to buyers, each with varying levels of detail and cost.
Mortgage valuation survey (Level 1)
HomeBuyer report (Level 2)
Building survey (Level 3)
Specific defect survey
The cost of a property survey can vary depending on the type and size of the property, as well as the location and the surveyor’s experience. It’s recommended you consider the level of detail they require and seek advice from their solicitor or conveyancer before choosing a survey.
Please find more detailed information and an overview of the expected costs for each type of survey below.
Basic Mortgage Survey
Typically, a basic survey, or mortgage valuation is for the lender’s purpose, meaning the property is being valued for the benefit of the lender who is considering providing the mortgage. The valuation is typically performed by a professional valuer/surveyor who is appointed by the lender to assess the property’s value.
The purpose of the valuation is to determine whether the property is worth the amount of the loan being requested, and to provide an assurance to the lender that the property could be sold for at least that amount in the event that the borrower defaults on the loan. The lender will use the valuation report to decide whether to approve the loan, and if so, the maximum amount of the loan that will be granted.
A surveyor may carry out a ‘remote’ or ‘desktop’ survey meaning the doesn’t physically visit the property, instead they utilise technology and data to determine the suitability of the property for mortgage purposes.
The decision to carry out a remote survey will depend on the lender’s policy and the type of mortgage being applied for. Some lenders may require an in-person valuation for certain types of mortgages, such as those with high loan-to-value ratios or for properties in certain areas.
It’s important to note that the valuation report is prepared solely for the lender’s purposes and is not intended to be a comprehensive assessment of the property’s condition or value. The borrower may wish to commission their own survey or valuation to obtain a more detailed understanding of the property’s condition and market value.
A RICS (Royal Institution of Chartered Surveyors) HomeBuyer Report is a type of survey report that provides a detailed assessment of the condition of a property. The report is typically requested by a homebuyer before purchasing a property and is carried out by a qualified RICS surveyor.
The report provides an overview of the property’s condition, highlighting any significant defects or issues that may affect its value or require repair. It is designed to help the buyer make an informed decision about the property and to identify any potential risks or liabilities.
A RICS HomeBuyer Report typically includes the following:
– An inspection of the property, including its structure, roof, walls, floors, windows, and doors.
– A report on any major defects or issues with the property that may affect its value or require repair, such as damp, subsidence, or structural damage.
– An assessment of any potential risks or liabilities associated with the property, such as environmental risks, drainage issues, or issues with nearby buildings.
– Advice on necessary repairs and ongoing maintenance requirements for the property.
– At an additional cost, you can obtain a market valuation of the property, based on its condition and local market conditions.
The report is designed to be easy to read and understand, and includes a traffic light system to highlight any significant issues or defects. The report is usually provided within a few days of the inspection and can be used by the homebuyer to negotiate the price of the property or to request repairs before completing the purchase.
A building survey is a comprehensive inspection of a property that provides detailed information about its condition, construction, and any defects or issues that may affect its value or safety. It is typically conducted by a qualified and experienced surveyor and is the most thorough type of property survey available.
A building survey will typically cover the following areas:
– Structural integrity: The surveyor will assess the condition of the property’s foundations, walls, floors, and roof, looking for any signs of damage or deterioration.
– Building fabric: The surveyor will examine the condition of the property’s external and internal walls, windows, doors, and other building elements to identify any defects or issues.
– Services: The surveyor will evaluate the condition of the property’s plumbing, heating, and electrical systems, and assess whether they meet current safety standards.
– Environmental issues: The surveyor will check for any environmental issues such as the presence of asbestos, radon, or other hazardous materials.
– Accessibility: The surveyor will assess the accessibility of the property, including any issues related to disability access.
– Energy efficiency: The surveyor will assess the property’s energy efficiency and provide recommendations for improvements.
The building survey report will typically include a detailed description of any defects or issues identified, along with recommendations for repair or remediation, and an estimate of the costs involved. It will also provide an overall assessment of the property’s condition and value, allowing the buyer to make an informed decision about whether to proceed with the purchase and negotiate any necessary repairs or adjustments to the sale price.
A snagging report is a type of inspection carried out on a new build property in the UK, typically just before completion, to identify any defects or issues that need to be addressed by the developer or builder before the property is handed over to the buyer. Here’s what a typical snagging report in the UK may include:
– Structural issues: The surveyor will examine the property’s foundations, walls, and roof, looking for any structural defects or issues that may impact the safety or stability of the property.
– Finishing and decoration: The surveyor will look for any issues with the finishing and decoration of the property, such as paintwork, tiling, flooring, or wallpapering.
– Electrical and plumbing: The surveyor will check the electrical and plumbing systems of the property to identify any issues, such as faulty wiring or leaky pipes.
– Windows and doors: The surveyor will assess the quality and operation of the windows and doors, checking for any faults or defects.
– Fittings and fixtures: The surveyor will examine the quality and operation of any fittings and fixtures, such as light fittings, switches, and sockets.
– Appliances: The surveyor will check the operation of any appliances that come with the property, such as ovens, fridges, and washing machines.
The snagging report will typically provide a detailed description of any defects or issues identified, along with photographic evidence, and recommendations for repair or remediation. The report is then presented to the developer or builder for rectification before the property is handed over to the buyer.
Specific Defect Survey
A specific defect survey is a type of property survey carried out in the UK that focuses on a specific defect or issue that has been identified in a property. It is typically carried out by a qualified surveyor and is designed to provide detailed information about the cause and extent of the defect, as well as recommendations for repair or remediation.
Here are some examples of specific defects that may be the subject of a specific defect survey:
– Damp: The surveyor will identify the source of any dampness in the property and assess the extent of the damage caused by the damp. The surveyor will also provide recommendations for remediation, such as installing a damp-proof course or improving ventilation.
– Subsidence: The surveyor will assess the cause and extent of any subsidence or movement in the property’s foundations or walls. The surveyor will also provide recommendations for remediation, such as underpinning or stabilisation work.
– Roofing issues: The surveyor will identify any issues with the roof of the property, such as leaks, missing tiles, or structural damage. The surveyor will also provide recommendations for repair or replacement of the roof.
– Structural issues: The surveyor will assess the condition of the property’s foundations, walls, floors, and roof, looking for any signs of damage or deterioration. The surveyor will also provide recommendations for remediation, such as repairing or reinforcing structural elements.
– Timber defects: The surveyor will identify any issues with the timber elements of the property, such as rot, infestation, or damage. The surveyor will also provide recommendations for remediation, such as replacing or treating the affected timber.
The specific defect survey report will typically provide a detailed description of the defect or issue identified, along with photographic evidence, and recommendations for repair or remediation. It may also provide an estimate of the costs involved in carrying out the recommended work.
What Are The Costs of Each Survey?
The cost of a survey when buying a property in the UK can vary depending on the type of survey you choose, the location of the property, and the size and value of the property. Here are some estimated costs of different types of surveys:
– Basic Mortgage Survey (Level 1): This is the most basic type of survey and provides an overview of the property’s condition. It typically costs between £400 – £500, although your broker will assess the total costs of your chosen mortgage product, as some lenders will offer an incentive of a free, basic mortgage survey.
– Homebuyer Report (Level 2): This is a more detailed survey that includes an inspection of the property’s visible and accessible areas. It typically costs between £550 and £700.
– Building survey (Level 3): This is the most comprehensive type of survey and provides a detailed inspection of the property’s structure and condition. It typically costs between £700 and £1,000, depending on the size and complexity of the property.
We can assist in providing quotes for you, just get in touch for a free quotation.
The Financial Conduct Authority does not regulate building surveyors.
Thameside Mortgage Ltd are not regulated by The Royal Institution of Chartered Surveyors, we do not have any involvement in the provision of this type of service / activity. We are not qualified surveyors and the information provided on this website is for informational purposes only. The information provided is not intended to be a substitute for professional advice, inspection, or survey.
It is important to seek professional advice and to undertake a proper survey/inspection before making decisions or taking actions related to a property.
What Our Clients Are Saying
Andrew has dealt with our mortgage and remortgage since we bought our first home 12 years ago. The service and advice is always spot on, hence why we always return without question. It's peace of mind knowing we can trust Thameside to take care of everything and give us the advice we need.
We have used Thameside Mortgages now for six of our remortgages over many years. Andrew and his team have been absolutely outstanding. They have always delivered on the best mortgage for us, based on our changing family circumstances, and also have brought ideas and advice that has been extremely helpful to guide us in making the best choice. What has been very impressive is that they are focused on a long-term relationship, not simply a quick commission, and have a few times taken us to mortgage offer stage, where we have backed out for various personal reasons, and they have not asked for any payment for much time and effort on their part getting that far in the process. I am reassured to know where to go for our mortgage advice!
We've bought our first home with Thameside Mortgages and it was a wise decision to choose them over others. Andrew made sure that everything is done for us and helped us beyond our expectations. Both he and Laura are very responsive, professional and welling to help anytime is needed. Our journey was a long one, being a chain but they stood side by side with us the whole process even in this difficult time. If I should choose again I would definitely choose them again. I recommend them 100%. Well done Thameside Mortgages 👌
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Thank you to Thameside Mortgages to Laura and Andrew, helping me get the mortgage, they were both very professional. The mortgage was smooth and efficient. I had difficulties with the solicitor, but Laura and Andrew have been there to support me throughout. I will definitely be in contact for a future mortgages. Happy to recommend to anyone.
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Andrew & Laura at Thameside Mortgages were an absolute godsend. Having them as our Mortgage Broker was so worth the money. They had excellent communication, were brilliant at chasing our lender and keeping things moving quickly, they were also fantastic at finding the best mortgage deal and helping you with every step of the way. They made the whole process so much easier, especially as we were first time buyers and had no clue what we were doing. They help you with all the paperwork and make the process far less overwhelming. I cannot recommend them enough, book them you will not regret it.
This is the second time I've instructed Andrew Sheen at Thameside Mortgages to find and secure the right deal for me. On both occasions I've had complete confidence in his ability to work with my best interests at heart. So professional and personable, I hope to always work with him when moving house or remortgaging. Not to mention, he's also a really top bloke. Thank you Andrew and team. Let's do it all again in 5 years time.
Having used a number of mortgage advisors in the past, I can say that Thameside were a breath of fresh air. We have an unusual situation and were told we couldn’t get what we needed from other advisors. Thameside were able to arrange a mortgage and kept us updated constantly and were available any time to discuss all the usual issues. Highly recommend to anyone looking for a mortgage.
Couldn't recommend Thameside Mortgages enough, both Andrew and Laura have and continue to be a huge support in the process for us. We have been kept up to date at all times, provided as much information as possible and have received helpful responses to any queries we have had. They have made a stressful process much easier and we couldn't have wished for a better service.
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Andrew and Laura have been very helpful every time we have spoken to them. They have quickly processed our transactions and responded to any issues immediately. We highly recommend Thameside Mortgages and all the services they offer. Thank you for helping us through our recent propert purchase.
We brought our first home nearly 2 years ago, we had Jason Harris as our advisor. I can’t put into words how much he helped from the very first call to present day with our remortgage and life insurance. Jason has been incredible from the get go, it felt as though we didn’t have to do anything really, as he found everything for us and gave multiple options so all we did was say yes or no. He broke everything down and explained things in such a simple way for us to not get too overwhelmed. He made everything feel stress free and simple, as well as finding us an incredible offer twice he has also found cheaper life insurance policies for us which is something I didn’t even think to do, he has saved us £100’s of pounds overall with our new offers. Really appreciate having him as our advisor and he’s a really helpful and lovely guy. Thank you Thameside & Thank you Jason.
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Andrew and the Team were not only extremely knowledgeable in their field, but extremely professional and thorough throughout the process. I can't recommend the team enough and would strongly urge engaging the team for your mortgage and life insurance management. Thank you Thameside Mortgages.
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