What are the Different Types of Building Surveys?

When buying a property in the UK, it is important to get a building survey. This will provide a detailed assessment of the property's condition, giving buyers property advice and helping them identify potential issues before finalising a purchase. There are different types of building surveys available, each tailored to meet specific needs and budgets. 

In this blog, we explore the various types of commercial surveying in the UK to help you determine which one is right for you.

Mortgage valuation survey

A mortgage valuation survey is typically required by lenders before they approve a mortgage. It is a basic assessment to determine the property's value and ensure it provides sufficient security for the loan. This survey is not comprehensive and doesn't usually reveal structural problems. Instead, it focuses on market value and risks to the lender, so it's not sufficient for prospective buyers seeking detailed information about the property's condition.

Homebuyer report

The Homebuyer Report is more detailed than a mortgage valuation and is designed for standard properties in reasonable condition. It provides an overview of the property's condition, highlighting significant issues that might affect its value or require urgent attention. The report also includes a market valuation and advice on necessary repairs, making it suitable for buyers who want a general understanding of the property's condition without the expense of a full structural survey.

A building survey

A building survey, also known as a full structural survey, is the most comprehensive type of property inspection. It is suitable for older or unusual properties, those in need of renovation, or when significant structural changes are planned. This survey provides an in-depth analysis of the property's condition, identifying defects, structural issues, and recommendations for repairs and maintenance. It's the best choice for buyers seeking peace of mind and a complete understanding of their potential investment.

Condition report

The condition report is the most basic type of building survey, offering a brief overview of the property's condition. It uses a traffic-light system to indicate the severity of any identified issues, but it does not include a market valuation or extensive detail. This type of survey is best suited for newer properties or those in excellent condition, where buyers want reassurance without an in-depth analysis.

Choosing the right survey

Selecting the right building survey depends on several factors, including the property's age, condition, and any planned renovations or alterations. If you're purchasing a relatively new property with no major concerns, a condition report or Homebuyer Report might be sufficient. However, for older properties, unusual designs, or significant renovation plans, a building survey is the best choice to ensure you understand any potential risks.

Regardless of which survey you choose, always ensure it's conducted by a qualified surveyor who is a member of a professional body like the Royal Institution of Chartered Surveyors (RICS). For building surveyors you can trust in Borehamwood, Watford and Greater London, get in touch with Simon Levy today.