There is no such thing as a Mortgage Survey. It is nothing more than a property inspection carried out on behalf of a Mortgage Lender to establish that there are no major problems with the house, bungalow, flat or whatever you are buying and, to take a cynical view on this, to make sure that the Lender will get their money back if you default on the mortgage payments and they repossess!

It is fair to say that Estate Agents really don’t want you to have a private survey because they know that those Reports bring to light problems that can make the buyer want to re-negotiate the price.

RICS Homebuyer Report

The RICS HBR reports on every single element of the building that can be seen or reached with safety, advising on condition of the building materials that make up the fabric of the building, externally and internally, the standard of fitting out, services and overall condition. The Report headings are:

External: Chimney stacks, roof surfaces, gutters and downpipes, walls, damp proof course (checks for rising dampness and penetrating dampness), doors, windows and other woodwork, decorations, Garage and outbuildings and the site.

Internal: Roof void, roof space and insulation, ceilings, walls, floors, fireplaces, internal joinery, fixtures and fittings, sanitary fittings and decorations.

Services: Gas, electricity, water, heating and hot water supply and underground drainage systems.

Each section of the Report describes the condition of those specific elements of the structure or its finishes, assesses what repair, maintenance or upgrading work has been carried out over the years and clearly explains what maintenance or repair work will need to be carried out now, soon or in due course.

The RICS HBR offers the Client a comprehensive record of property condition, very useful advice on current and future maintenance matters and can be tailored specifically to include advice on building modifications proposed or hoped to be carried out in the not too distant future.

The property is valued based on what it is, where it is, the condition we find it to be in and the prevailing market conditions. If we down value, that is done on a fully justified basis because of condition matters or other specific factors, in such cases, and the RICS HBR provides the majority of our Clients with a very useful document to assist in re-negotiation of the purchase price.