Choose a survey

Survey or mortgage valuation - what's the difference?

When you’re buying a new home you want to be confident that the price you’re paying represents good value. A mortgage valuation report is based on a very limited inspection of the property, or sometimes no inspection at all, and is only intended to provide basic valuation advice to the lender. So, you may be given get an idea of the valuer’s opinion of the property's market value, but you won't get enough information to make an informed decision about your purchase.

A survey will provide much more information on the property, particularly focusing on the overall condition of the structure and fittings, which can heavily impact the long- term costs of living there.

Surveys come in a range of formats and offer different levels of investigation and advice. It’s important that you understand the different options available so that you get the right service to meet your needs.

To help you, we’ve put together a simple product comparison table below.

Product comparison table

 

Home Survey Level 2

Home Survey Level 3

Mortgage Valuation

You are the surveyor’s customer

Y

Y

N

Detailed inspection by a qualified surveyor 

Y Y

N

Comprehensive report addressed to you

Y Y

N

Designed to help you decide if the property is right for you 

Y Y

N

Benchmarked to RICS standards

Y Y

N

Provides information that could help you with property price negotiations 

Y Y

N

May help you avoid costly repairs after a purchase

Y Y

N

Can help you budget for repairs after a purchase

Y Y

N

You can discuss your concerns with the surveyor

Y Y

N

Report includes advice on repair and maintenance priorities

Y Y

N

Recommendations for enquiries to be made by your conveyancer

Y Y

N

Recommendation for further investigations by specialists

Y Y

N

Suitable for most homes built after 1850 using conventional materials

Y Y

Y

Suitable for older, larger, unusual or run down properties

N

Y

Y

Designed only for the lender to decide if the property is suitable for a mortgage

N

N

Y