A Mortgage Valuation carried out by the lender is not a survey. The lender’s valuation is to establish and confirm the property’s market value and its suitability as security for the mortgage. The lender might opt to carry out a physical valuation based on a limited inspection but nowadays lenders have access to a wealth of information meaning that it’s not always necessary for the lender to carry out a physical valuation. This report is designed for the lender’s eyes only and you would normally not receive a copy. In most cases, if a report is available, you would also be expected to pay for a copy.

Please note that the lender’s mortgage valuation might not mention matters that could affect your decision to proceed with the purchase. For peace of mind, you might want to instruct a surveyor to inspect the property on your behalf. There are different types of surveys at different costs, depending on the state of the property or its age. You might choose between a HomeBuyer Report or a Building Survey for a more in-depth inspection.

If you are looking for a recommendation, I would suggest speaking with family or friends to find out if they have anyone in mind. If you are struggling to find someone, I can always refer you to a surveyor or two.

Please note that the FCA does not regulate valuation or surveying services. These services are offered by referral to a third party.