Surveys and Fees

  • This is a payment as one of the requirements of a lender prior to approving a mortgage.
  • The survey of the property is normally required in the interests of protecting the lender- the fee is nevertheless paid by the buyer!
  • There are different levels of survey from basic which is normally sufficient for a modern house, to more detailed surveys.  The latter is suitable for period properties where there is more risk of dry-rot wet-rot, subsidence, heave, landslip etc.  The latter categories can attract an excess of say £1000 after which the insurance co. may pay for any damage caused.
  • See AppraisalsComparablesSurveys and valuations.

What are your thoughts?

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