Is a Mortgage Valuation the same as a Survey?

A mortgage valuation is not a survey. It is not intended to inform a buyer of the condition of the property.

Is a mortgage valuation the same as a survey?

Many buyers who have had a valuation carried out for their mortgage are under the impression they have had a survey.  Many buyers ask the question “is a mortgage valuation the same as a survey?”  A mortgage valuation is not a survey.  It is not intended to inform a buyer of the condition of the property and some lenders do not release a copy to the purchaser.  The valuation is arranged by the mortgage company and may be carried out either by an in-house valuer, or a valuer on their panel.  The purpose of the valuation is to confirm to the mortgage lender the value of the property in the event that you default on the mortgage payments the lender needs to know that the property offers sufficient security for the loan.

For an average 3 bedroomed house the mortgage valuer is likely to spend no more than 20 to 30 minutes carrying out the inspection.  The valuer will not normally get into the roof space (head and shoulders inspection only) and will not usually lift back edges of carpets, open windows, run water down the drains, etc.   Part of this time will be spent measuring the property in order to calculate the rebuilding cost therefore the inspection itself will not be detailed.

In comparison, a surveyor carrying out a survey on the same property is likely to spend around 3 hours carrying out the inspection, although the actual time will obviously vary from one property to another.  The surveyor will normally carry out a detailed inspection of the roof space (if safe access is available), lift edges of carpets (where possible) to check the construction of the floors, open windows, run water down the drains (where possible) in addition to inspecting other parts of the property.

 

What Types of Property Require a Survey?

All properties require a survey, whether new, old or newly refurbished.

A survey is not only necessary to check whether a property has any defects, other items may be identified in the course of a survey which require further investigation or specific enquiries to be made by your solicitor.  Questions may include:

  • If there have been any recent alterations to the property have these been carried out with Local Authority approvals?
  • Are there any issues with trespass such as overhanging gutters or trees?
  • Are there any asbestos containing materials (ACMs) within the property? These are not always obvious and may be in the form of textured coatings to ceilings and/or walls, floor tiles, etc.
  • Has adequate fire protection been provided between the house and any attached/integral garage?
  • Are there any flying and/or submerged freeholds? These may affect your buildings insurance.
  • If you are purchasing a flat do you know whether there is adequate fire protection and means of escape?
  • Are there any trees which may be within the zone of influence of the building?
  • Are there any known issues in the area, such as subsidence, pitch fibre drains, etc?

The survey can either be carried out by the valuer at the same time as the mortgage valuation or you can instruct a surveyor of your choice to carry this out separately.  You are able to instruct a surveyor who you think is most suited to carry out the task, this may be someone who is recommended by a friend, family, solicitor or anyone else.     You are NOT under any obligation to have the survey carried out by the valuer who carries out the mortgage valuation.  See also how much does a survey cost? 

To find a Chartered Surveyor in your area visit:

http://www.ricsfirms.com/


 

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Buying a house with an extension: what to check – Local Authority approvals, substandard construction

When buying a house with an extension there are a number of issues to consider.

Local Authority Approvals – buying a house with an extension

The purpose of Building Regulations is to ensure that construction works are carried out to the required standard, are safe and have a satisfactory level of insulation.  If you are buying a house with an extension which does not have Building Regulation approval then its construction may be substandard or even dangerous.   It is possible that a lack of Building Regulation approval may affect the buildings insurance policy and/or mortgagability (and saleability) of the property.

If you plan to buy a house with an extension then you/your solicitor must make enquiries to establish whether the required Local Authority approvals have been obtained.  Obtain copies of all documentation and keep these with your other purchase documents.

However, you may find that the works were carried out without the required Local Authority approvals.  If this is the case then the Local Authority may choose to take enforcement action against the owner of the property (even if the works were carried out by a former owner).  In other words,  if you purchase a house with an extension which does not have the required Local Authority approvals then there is a risk that you will be required to rectify the works at your own expense.  The owner of the property may apply for retrospective approval, however, this may delay the sale of the property.  A speedier solution may be to take out an indemnity policy.  Your solicitor can advise on the suitability of an indemnity policy for your particular situation and can advise on the policy details and any limitations.

For further information on what works require Planning Permission, Building Control Approval and Listed Building Consent visit the Planning Portal using the link below:

https://www.planningportal.co.uk/

 

Half brick rear additions

Many older properties have additions (often at the rear) which are of half brick (single skin) construction.  Some were former outbuildings which have been incorporated into the living space.  This form of construction is substandard, may allow rain penetration, high heat loss and condensation.  If you are seeking a mortgage then it is possible that a retention may be made (or an undertaking to upgrade the walls) until works have been carried out to a satisfactory standard.

 

Lack of a cavity tray where conservatories and single storey extensions are provided

Where a single storey part is provided there is normally a cavity tray in the cavity wall immediately above the lower roof.  With cavity walls it is normal for rainwater to pass through the external leaf and into the cavity. A cavity tray is needed in this position to help water entering the cavity to pass to the outside instead of causing the inner face of the wall below to become damp.  In other words, if a cavity tray is not inserted into the cavity wall where a single storey extension or conservatory are added then there is a risk of dampness to the wall internally, ie, inside the house.

Damp patches may be noted to the wall or wall plaster in the area close to the new abutment to the outside wall.  If you are having a survey then your surveyor can check this area with a moisture meter.  A moisture meter can detect dampness which may not be visible to the naked eye.  If you are having only a mortgage valuation but no survey then the valuer may not check this area with a moisture meter.  See also – is a mortgage valuation the same as a survey?

If dampness is noted due to a lack of a cavity tray then it will be necessary to insert a cavity tray at this position.

 

Low pitched roofs to single storey extensions

Many people would prefer to have a pitched rood rather than a flat roof over an extension as they consider it will have a have a longer life and need less maintenance.  Also, many pitched roofs have a better appearance than flat roofs.  But many home owners do not consider the pitch of the roof and the type of tile.  In many cases the pitch is determined by the size of the extension and the position of any upper windows. In some cases there may only be sufficient height for a relatively low pitched roof.

Each type of tile has a minimum pitch for it to be watertight, ie, roofs below the minimum pitch for the type of tile may not be watertight.  For instance, Redland 50 Double Roman tiles should be used at minimum pitches of 17.5, 22.5 or 30 degrees depending on whether the tiles are through coloured or have a granular finish, and also depending on headlap.  Therefore, if a pitched roof has a low pitch it is possible that it may not be watertight unless a suitable type of tile has been used such as Forticrete Centurion which can be used for pitches as low as 10 or 12.5 degrees depending on headlap, lap of underlay, etc.

 

The list above is for general advice and is not exhaustive as further issues may require investigation and enquiries, depending on the property you propose to buy.

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Does my solicitor need a copy of my survey report?

 

The answer to this question is simple.  Yes, your solicitor should have a copy of your survey report.  Some solicitors may ask for a copy as a matter of course but many do not.  Your solicitor is not likely to have visited the property you plan to buy but your surveyor will probably have spent several hours carrying out an inspection before preparing the survey report.

It is likely that there will be items in the report which will need the input of your solicitor including:

  • Checking whether any extensions to the property (including loft conversions) have Local Authority approvals (Planning Permission, Building Regulation approval and Listed Building consent where appropriate).  Your surveyor is likely to note any recent extensions which your solicitor may not otherwise be aware of.
  • During the course of the survey your surveyor is likely to note any works which appear to have been carried out recently which would have required Building Regulation approval. Your solicitor should check whether Building Regulation approval has been obtained for any alterations to the property or any other works controlled under Building Regulations including formation of new openings in a wall, works to the drainage installation, etc.  Also, if cavity wall insulation has been installed then this will be noted by your surveyor and your solicitor should obtain the installation documentation to confirm that this has been carried out satisfactorily.
  • If any parts of the property trespass, ie, gutters, satellite dishes, trees, opening windows along a boundary, etc, then your solicitor can provide advice before you commit to purchase the property. Similarly, if any parts of a neighbour’s property trespass then advice can be obtained prior to purchase.
  • Confirming ownership and responsibility of boundaries.
  • Confirming ownership and responsibility for drain runs.
  • If you are buying a flat then your solicitor will need to check the lease and confirm your responsibilities for repairs and maintenance, including external and communal areas.

Your solicitor may be happy with a digital copy of the report rather than a hard copy.  This can easily be forwarded by email so can be read and acted upon a day earlier than a hard copy would be received by post.

So, even if a property looks to be in a good order, it is worth having a survey in the event there are issues which need to be checked by your solicitor.

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