Get an independent survey!
All Surveys The Same? REMEMBER - A valuation
is DIFFERENT from a survey.
- All surveys are not the same and there are several
Lending companies will use a preferred and trusted
SURVEYOR, often from within their
own group of companies, in order to protect their
own interests. This
has many advantages for the lender in that the SURVEYOR
acts in their best interests and not yours. You do
not have to use their SURVEYORS for
your own survey, how else do you get impartial advice?
An independent SURVEYOR is not bound
by large multi-national corporations. They do not
answer to anyone except you the client and act in
a professional manner on your behalf.
SURVEYORS have been instructed in
every part of their business to become tight fisted
and down value everything in order for the banks to
regain some sort of composure following the financial
collapse of most of their assets
It is allowed! It does have an initial cost implication
but if the property you are after has the potential
equity and you are able to get the property BMV
it is more than a cost saving exercise, it generates
Anyway if there does turn out to be a problem with
the mortgage valuation you are able to appeal and
provide independent evidence in support of your initial
Make the right choice
when choosing your surveyor but be careful anyone
can call themselves a surveyor, for example Estate
Agents often advertise such services.
It is wise to choose a Chartered
surveyor, they have had years of training and have
had to gain many qualifications and years of experience
before they can be classed as a Chartered Surveyor.
Membership of RICS
the Royal Institution of Chartered Surveyors means
that its members must adhere to certain standards
and should act to protect the consumer.
This is very different to belonging to an Association,
Club or Union such as with Estate Agents belonging
to the NAEA,(National
Association of Estate Agents), they are not chartered
as it is a members only club acting in favour of their
members and not the consumer.