When buyers are using a mortgage to finance their home, the mortgage lender will usually arrange for Mortgage Valuation. The Mortgage Valuation gives the lender a basic understanding of the age, condition and value of the property, and this helps the lender to decide how much it is willing to lend to the buyers. The buyers may then opt to have their own inspection carried out for their own piece of mind, usually by a Chartered Surveyor. There are several types of inspection available, including:
Homebuyer Report
Suitable for the vast majority of properties built from about 1870 onwards, that are of traditional construction and have not been significantly altered or extended. Its aim is to provide a snapshot of the overall condition of the property and to identify those areas that need further investigation. It includes a property valuation and a figure for insurance purposes. The inspection can take up to four hours, with the output being a 20-30 page report outlining the condition of the property, putting any defects into context.
Building Survey
A more detailed, comprehensive report about the condition of a property. It can take several hours to complete and is recommended for properties built prior to about 1870, or have been significantly extended or altered or are listed. Every accessible part of the property is inspected and all defects examined and repairs outlined. Technical information about the property’s construction and materials are detailed. Proposals are made for any further special inspections and subsequent work required on the property.
Alexander Gibson works with many surveying practices in the region, and is delighted to recommend Kempston-Parkes Chartered Surveyors of Harrogate for their excellent customer service.
Kempston-Parkes Chartered Surveyors
01423 789111
info@kempston-parkes.co.uk
https://www.kempston-parkes.co.uk/