What’s the difference between a home survey and mortgage valuation?

When applying for a mortgage, a surveyor instructed by the lender carries out a valuation of the property to ensure that the property is worth the price you are planning to pay.

A mortgage valuation is NOT a comprehensive survey and, in some cases, won’t even involve a visual inspection of the property. It allows the bank to check that their investment is sound, should you be unable to repay your mortgage.

If you want to know the condition of the property you are looking to purchase and be made aware of any defects, you should arrange a separate survey to provide an in-depth report.

What is a Chartered Surveyor?

A Chartered Surveyor is a property professional who has spent years training to become a qualified member of the Royal Institution of Chartered Surveyors (RICS). All members of the RICS work to the highest standards of professionalism and ethical practice.  Dependent on the level of qualifications, members can be designated AssocRICS, MRICS or FRICS.

What is a Registered Valuer?

Registered Valuer simply means that the surveyor undertaking the valuation is part of the RICS Valuer Registration Scheme and will carry out your valuation according to strict principles set by the RICS.

What is the difference between a regulated and non-regulated surveying firm?

Regulated firms are those that are signed up to the RICS Rules of Conduct for Firms and are regulated and monitored by RICS to ensure that they meet the highest standards. 

How long will my report take to come back to me?

We endeavour to return all reports within 3-5 working days.