In short, NO !
A mortgage company will have a valuation on the property this is there to protect them, that’s all so that they can make the commercial call on the lending of finance.
It does not give you a condition report or advise of changes with the property and how they may impact on you or advise in any way remedial works needed that could down the line cause you problems and expense.
Get your own Kent Property Survey – It is money well worth spending
See the graphic below to see what you get when the Lender Surveyor comes to view the house.!!! its not a lot
|Help you make a reasoned and informed decision
as to whether to proceed, reconsider or renegotiate on the purchase
Although is only for the lenders benefit
|Identify potential problems
such as any repairs or replacements the property needs including inspecting roofs, chimneys and other surfaces on the outside of the building from ground level
|Can help you negotiate a better property price
Where problems are discovered or a lower valuation is given, buyers are enabled to negotiate a lower buying price
|Show traffic light ratings
which give you a green/amber/red condition of your property in an easy to understand format
for potential costly repairs after you move in
|Completed by a Qualified Surveyor
All Surveyors are fully qualified and highly experienced and Independent meaning you get a truthful Survey with now other agenda than giving you the information you need to know. Surveyors are Members of Rics, Sava and RPSA
gives you a professional valuation of the property, helping prevent you from paying too much for the property
a more in depth survey on construction, issues and defects
|Appropriate for all properties
a suitable survey, irrespective of age, construction type, condition and level of modification
|Highlights urgent issues
Reports on any defects needing urgent attention
Professional recommendations on repairs and maintenance
|Building reinstatement Costs
Included for insurance purposes
|Appropriate for standard property types
Suitable for properties built later than 1870 of standard construction (brick and tile)
|Appropriate for unusual property types
Suitable for a older, unusual constructed or extensively modified properties(e.g. extended) or those in need of modernisation
|Advice for your Solicitor
Observations that may impact the legal title investigation conducted by your solicitor.