Mortgage Valuations

A valuation isn't a survey. It's a limited check on the property that your mortgage lender carries out to ensure it's worth the money they're lending you.

They'll probably ask you to pay for the valuation.

Many lenders provide a copy of the mortgage valuation to the buyer but it is unlikely to cover items of detail which would be picked up in a survey.

However, there may be structural problems in the property that would cost a huge amount to put right - and they won't appear in the valuation report.

This is why it's really important you have a survey.

A chartered surveyor is fully qualified to carry out a more detailed survey, before you buy your home.

A mortgage valuation includes:

• Details of property and construction
• A brief statement on condition of property
• Identify urgent and significant repairs
• Value of property (with repairs work if required)
• Insurance-recommended figure