Regardless of your mortgage scenario, if you are a first time buyer in Middlesbrough and have had your offer accepted on a property, the next step is to arrange a property survey to confirm your property’s condition and find out whether or not it’s worth what you’re paying for it.
Our qualified mortgage and protection advisors will help you choose the right survey for your situation and the type of property you are purchasing. Please feel free to get in touch, and we will be happy to help.
A property survey is a comprehensive review of a property’s condition. It’s a property surveyor job to go out to the property and examine its suitability for the homeowner to live in; they will produce a report highlighting any dilemmas with the property. These problems vary from internal to external.
The issues could be severe or easily rectified with a potential small fee, but you will need to get a property survey either way. The surveyor report will also feature expert commentary on the property, from the type of wall to the kind of window glazing.
A mortgage valuation takes a brief looks at your property to assess how much the property is worth to your mortgage lender. Your mortgage lender will usually insist on using a company they trust, and you will have to pay for it.
The cost of a mortgage valuation varies depending on the size of the property. We tend to find; some mortgage lenders offer free valuations as part of a deal.
This survey will cover structural safety and highlights problems, including damp and anything that doesn’t meet current building regulations.
You will receive an independent report of your property by an expert. It is advisable to ask the mortgage companies surveyor to carry out this report for you, and it will take a couple of hours to complete depending on property size and condition.
This survey is advisable for older properties and those of non-standard construction. Depending on the property size and type – a full structural survey can take as long as a day to complete.
A full structural survey provides a detailed report on the condition of the property and highlights issues that the homebuyer should investigate further before going ahead with the purchase, providing you with peace of mind about the state of your property.