House Surveys and Valuations
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House Surveys and Valuations (Part 1)
Paul Collinson is here to talk us through everything we need to know about house surveys and valuations. Episode one of two, recorded in January 2026.
What is the difference between a house survey and a valuation? Does the survey include a valuation?
A valuation is basically to ensure that a property is suitable lending for a lender. It’s to check that the property is worth what it says on the mortgage application.
Although there’s a brief look at the condition, the valuation is mainly based on the size, location and characteristics of the home – it’s quite basic. A house survey is different. These are more detailed inspections looking at both minor things and major structural aspects such as subsidence, damp and the presence of certain materials, such as asbestos.
The findings are then put into a report. A survey is highly recommended, as it picks up on other issues that a basic property valuation won’t. However, a survey doesn’t automatically include a valuation, unless it’s something called a level two survey. That’s the only one that comes with a value.
Do I need both a survey and a valuation? Can I use the mortgage valuation as a full survey?
You can’t use a mortgage valuation as a full survey, because it’s just a check on what the property is worth and whether it’s suitable for lending. You do need the valuation – that’s a key step within the mortgage application.
In terms of the survey, that’s your choice. It depends on how comfortable you feel and possibly how old the property may be.
Even some recently built properties have defects that a surveyor notices, so I do recommend surveys on those too, for peace of mind. Most people do prefer to have a survey as this is the biggest purchase they’ll ever make, and they want to make sure the property is all fine, and they know what they’re getting into.
Who arranges the house survey? The buyer or the lender?
The buyer would arrange this. When you apply for a mortgage, we normally ask someone to contact you if you want to look at the options of a house survey. They can talk you through that, but you, as the buyer, have to arrange it.
How much do surveys and valuations typically cost?
Valuations with lenders can often be free or perhaps £100. When you choose a survey, the price depends on the type of survey you choose and where you go.
The cost can be anywhere between £400 and £1,500, depending on the level you go for and who you appoint for it.
How long then does a house survey or valuation take?
A mortgage valuation normally takes around 10 to 15 minutes, whereas a house survey can take between one and four hours.
What happens if a survey finds problems with the property?
It depends on the severity of the problem. You can use the information to either renegotiate the price with the vendor, or you can walk away and start the whole process again. It’s all about what you feel comfortable with.
It could be something minor that you’re happy to sort out when you move in. If it’s something more major, you may want to renegotiate the price with the seller of the property. Or it might be too much work, and you don’t want the hassle, so you go and look for something else.
Can I renegotiate the offer price based on the survey results?
Yes. The seller will need to agree to an alternative purchase price that works for both of you. Sometimes a seller won’t even offer a renegotiation, but hopefully they will.
Then you have to decide what you want to do. You can assess the repair, how much it would cost and then compare it against the property as a whole, and decide whether it’s worth it.
If it is, that’s all good. Otherwise, you can restart your property search if you’re not happy.
What are the different types of house surveys?
There’s level one, level two and level three. The level one survey used to be called a condition report, and is the cheapest one. It shows defects, but it won’t explain how to deal with those defects. Generally, it’s for those buying a house that’s in good condition and a pretty standard one.
A level two survey used to be called a Homebuyer’s Report. This is a more detailed inspection for a reasonable condition property, with no extensions or loft conversions. It’s a more detailed inspection, and you get a report for that.
A level three survey is the most comprehensive option, previously called a building survey. This is for potentially unusual properties, ones that need extensive work or have had extensions, loft conversions or other structural work. It also gives you advice on repairs that need completing.
What’s the difference between a homebuyer’s report and a building survey? What does a snagging survey involve?
The homebuyer’s report is now called a level two survey, which is a detailed inspection for properties in reasonable condition. The building survey now is known as level three, and is the one that goes into the most depth.
A snagging survey is done on a new build home, to find any poor quality work or things that haven’t been finished, including things like plumbing, electricals and tiling. These should be compliant with building regulations on a new build.
Some people get a snagging survey done so that they’re comfortable before accepting the property – others don’t do this. But some building work isn’t always up to standard, and we probably wouldn’t notice a lot of these things without an expert eye – so it is advisable to get a snagging survey done.
We will be back with part two, but do you have anything else you’d like to add first?
If any questions pop into anybody’s head after this episode, just get in contact with us and we’ll see what we can do to help.
Key Takeaways:
- A valuation is primarily for the lender to ensure the property is suitable for lending, and is based on worth, size, and location. A house survey is a more detailed inspection for the buyer, looking at the property’s condition, including minor and major structural issues.
- A survey is highly recommended for peace of mind, even for recently built properties. Valuations can often be free or around £100, while surveys typically cost between £400 and £1,500, depending on the level of inspection chosen.
- A survey does not automatically include a valuation, with the exception of a Level Two Survey (formerly Homebuyer’s Report), which is the only type that comes with a valuation. A mortgage valuation cannot be used as a full survey.
- The three main types are: Level One (Condition Report) for standard, good-condition homes; Level Two (Homebuyer’s Report), which is more detailed for reasonable-condition properties; and Level Three (Building Survey), the most comprehensive option for older or unusual properties that may require extensive work, and which provides repair advice.
- If a survey finds problems, the buyer can use the information to either renegotiate the offer price with the vendor or choose to walk away from the purchase. A snagging survey is also advisable for new-build homes to check for poor-quality or unfinished work.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
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House Surveys and Valuations (Part 2)
Paul Collinson continues the conversation about house surveys and valuations. Episode two of two, recorded in January 2026.
Which type of survey should I get for an older or listed building?
It would be advisable to go for a level three survey, which is the one that goes into more depth. It’s the most comprehensive option out there.
Previously named the building survey, this is ideal for unusual or older properties, or ones that need extensive work. It also gives you advice on the repairs that need completing.
Do new builds need a survey?
You can get one done if you like, and it’s generally advisable to have one. It’s called a snagging survey, which is specifically for a new build home and is designed to find any poor-quality work that hasn’t been finished. It can include plumbing, electrical work and tiling – anything that isn’t finished to a standard that complies with building regulations.
Some people do get it done to feel more comfortable before accepting a property. The building work on new homes isn’t always at the standard it should be. Most of us probably wouldn’t notice things that a surveyor would pick up on the survey.
I’d personally want that peace of mind before purchasing. We have contacts to put you in touch with on that.
What are the most common problems found in house surveys?
There are many issues or problems that can be found, but the most common ones are damp, roof problems or issues with the electrics and plumbing.
Will the survey check for damp, rot or subsidence?
Both the level two and level three surveys will do that, but level two just visually inspects those. A level three survey is more comprehensive and checks thoroughly for those things. They would also advise you more on what to do about anything that’s identified.
Will I get a full report after the survey?
Yes, you’ll get a full report after the survey. It can take anywhere between five and ten days to get that out to you.
Can the surveyor enter the loft or move furniture?
They generally won’t move furniture, but it is standard for them to get into the loft and have a look there. They need to see the roof space to carry out the inspection to a thorough standard.
What should I do if the surveyor flags structural issues?
They should be flagged up with the vendor, and you need to get quotes on having the work done. This obviously depends on the severity of the structural issue. If it’s potentially not too severe and you’re happy to carry on with the purchase, you can get quotes for the work and possibly renegotiate the price with the vendor – if they allow.
You can then reassess the situation and what you want to do after that. You might decide you don’t want the hassle and walk away. But if you get the quotes and you think it’s possible, you can make an informed decision.
How is a property valuation calculated?
Generally, the valuer will look at properties sold within the area over the last six months or so. They also look at how much it would cost to rebuild the property.
They consider its size and any positives or negatives about the location. Is it close to a good school, a park or appealing landmarks? These factors influence how attractive or even unattractive the property will be to a future buyer.
They bring everything together to calculate the valuation. Sometimes they conclude that it’s being sold over value – and therefore they downvalue the property.
Can a mortgage be declined because of the valuation?
Yes. A lender can downvalue the property and then decline it. There could be structural issues they decline it on, or they can downvalue it based on those. A downvalue could potentially put the mortgage out of the loan-to-value that the buyer has asked for.
There can be options with that. You could try and renegotiate the price with the seller of the property if they’re open to it. The worst case scenario is that you end up putting more money in yourself to cover that fall in value. If this happens, then we can look at all the avenues.
We’ll look at the whole picture – what the downvalue is, the loan-to-value on the property and your options as a whole. You can then make a fully informed decision about what to do.
We’ve covered all the questions for this episode. Anything else you’d like to add?
I think we’ve covered a fair amount there. As always, if anyone has any questions, just contact us and we’ll help you in any way that we can.
Key Takeaways:
- A Level Three survey (previously a Building Survey) is advisable for older, unusual properties or those needing extensive work. It is the most comprehensive option and includes advice on necessary repairs.
- A ‘snagging survey’ is specifically for new-build homes to find poor-quality or unfinished work (plumbing, electrical, tiling) that does not comply with building regulations, and is generally advisable for peace of mind.
- The most common issues found in house surveys are damp, roof problems, or issues with the electrics and plumbing. Both Level Two and Level Three surveys check for damp, rot, and subsidence, with Level Three being more thorough.
- If structural issues are flagged, they should be brought up with the vendor. The buyer should get quotes for the work and may attempt to renegotiate the purchase price.
- A property valuation is calculated by looking at recent sales in the area (over the last six months), the cost to rebuild the property, its size, and location factors (like proximity to schools or parks). A mortgage can be declined if the property is ‘downvalued’ below the requested Loan to Value or due to structural issues.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.