House surveys
Ednites Credit Union does not offer house surveys. The information below is guidance only and may differ from that given by survey providers. This guidance is not relevant for buying property in Scotland, where the surveying process is different.
What is a house survey?
A house survey is an inspection of a property by an expert to help identify potential problems for a prospective buyer.
A 'surveyor' visits the property, completes an inspection and prepares a report on what they've found.
Surveys are generally carried out at a cost to the prospective buyer, but can help uncover any issues with the property that could be costly to fix.
How much is a house survey?
House survey costs will vary depending on the level of survey requested and the value of the property.
According to Which.co.uk, you can expect costs to range between £400 - £1,500.
Are house surveys and mortgage valuations the same?
No. Mortgage valuations are a more basic evaluation of a property. Mortgage lenders have these carried out to provide assurance that a property is a suitable security for the mortgage you’ve applied for.
House surveys are more detailed assessments, designed to provide further insight for prospective buyers, rather than mortgage lenders.
Who organises a house survey?
Types of house survey
Condition report (level one)
Homebuyer report (level two)
Building survey (level three)
* According to data from Moneyhelper.org.uk. These figures, retrieved November 2021, are for guidance only and actual costs may vary.
Who carries out a house survey?
House surveys are completed by qualified surveyors.
Most are members of the Royal Institute of Chartered Surveyors (RICS). This means they abide by certain standards, such as having professional indemnity insurance.
When choosing a surveyor, finding one locally may be beneficial, as they could have better knowledge of the local housing market.
If you're buying a property that is for some reason unusual, it may be a good idea to seek a surveyor with specific experience assessing similar properties.