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Which Property Survey Should I Choose in Hull?

Property Survey Mortgage Advice in Hull

What sort of survey to consider? 

If you’ve had your offer accepted on a property, your next job is to arrange a property survey to establish the condition of your property and to find out whether or not it’s worth what you’re paying for it. We have been in the Mortgage Broker industry for over 20 years now, so we know exactly what type of property survey to recommend to you based on the property that you are purchasing.

First Time Buyer in Hull or Moving Home? Buy to Let landlord or Self Employed in Hull? Whatever your mortgage scenario, you are going to need to get a property survey arranged. Here is everything that you need to know about property surveys and which one you should choose for your property.

What is a property survey?

A property survey is a detailed review of a property’s condition. The survey is carried out by a property surveyor who will go out to the property and examine its suitability for living in. They will produce a report which will highlight any outstanding problems with the property. These problems could be internal, external or something else. The issues could be serious or they could be easily rectified with a small fee, but either way, you are going to need to get a property survey. The report from the surveyor also provides expert commentary on the property, from the type of wall to the type of glazing.

There are 3 main types of property survey available to you:

  1. Mortgage Valuation
  2. Homebuyer’s Report
  3. Full Structural Survey

What is a mortgage valuation?

This is not a survey, it’s an often brief look at a property to assess how much the property is worth for your mortgage lender. Your mortgage lender will usually insist on using a company they trust and you will have to pay for it.  The cost of a mortgage valuation varies depending on the size of the property, these can be in the region from £300+. Often, some mortgage lenders offer free valuations as part of a deal; but we’ll help you weigh up taking them up on this compared with other better deals.

What is a homebuyer’s report?

This survey will cover structural safety and highlights problems, including damp, as well as anything that doesn’t meet current building regulations.

This kind of report will give you an independent report of your property by an expert.

To ensure you are not paying for two surveys it is advisable to ask the mortgage companies surveyor to carry out this report for you – it will usually take a couple of hours to complete.

What is a full structural survey?

This survey is advisable for older properties and those of non-standard construction. Depending on the property size and type – a full structural survey can take as long as a day to complete.

A full structural survey provides a detailed report on the condition of the property and highlights issues that should be investigated further before going ahead with the purchase, providing you with a peace of mind about the condition of your property.

Hullmoneyman.com & Hullmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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