Surveying

Before giving you a mortgage, your lender will instruct a survey to confirm the price you're paying for the property is appropriate. The most common types of survey are:

Basic mortgage valuation
This is for the lender's own purposes confirming the property provides security for the loan.

Homebuyer's report

This provides brief information on the property's condition. The report will include comments on the property's defects and the valuer's opinion as to its marketability.

Full structural survey 

This report is based on a detailed examination of the property. Any areas of concern that you might have will be investigated.

Some lenders will offer to pay for the basic mortgage valuation as an incentive. You may also want to consider one of the more detailed surveys, depending on the age and condition of the property. In most cases you can use the same surveyor to carry out both surveys, but there's nothing to stop you appointing an independent surveyor should you choose to do so.

Surveying is not regulated by the Financial Conduct Authority.