Valuations / Surveys
Whether you're buying your first, a new home, or simply moving lenders, a valuation is required in all scenarios, this is to provide the lender with adequate protection when granting you a mortgage. The lender needs to ensure there is sufficient value in the property they are lending you money against.
In most cases the lender will arrange the valuation, but this is just a basic valuation for mortgage purposes. There are more indepth options available as below:
We can provide you with access to competitively priced quotes for all options, for a quote click the appropriate image below.
More in-depth surveys are available e.g. Home buyer report (also known as level 2) or a Building Survey (also known as level 3).
As you'd expect a level 3 survey is the most in-depth and will include things such as outlining repair work required and consequences of not completing.
A more in-depth breakdown of the differences between the two can be found here.
Your lender will require a basic mortgage valuation, this provides them with a basic understanding of the property and its value, including a reinstatement cost for insurance purposes.
These reports are not generally appropriate if you have any concerns about the property or its structure.
*Some lenders include these free of charge.
TS5 Mortgages is a trading style of Craig Gregory. Craig Gregory is an appointed representative of Beneficial Ltd, which is authorised and regulated by the Financial Conduct Authority, FCA number 736655.
Craig Gregory is authorised and regulated by the Financial Conduct Authority, FCA number 1022241.