Chequers Cottage, Lower Road
West Farleigh, Kent ME15 0PE
Tel. 07908 641668
Email. [email protected]
Why Use an Independent Chartered Surveyor?
Once you have viewed a property which meets your requirements it is usual practice to make an offer and instruct a Solicitor to commence the conveyancing, subject to your offer being accepted, but who is looking after your interests? Your Solicitor should certainly guide you through the legal issues surrounding the Transfer of Title and Land Registry requirements, but what about the actual item being purchased?
What about your Mortgage Lender, assuming you need to secure a loan against the value of the property, they will insist on a Valuation Survey, which will protect me. Think again. The Valuation Survey is there to satisfy the Lender that the asset is worth the amount of monies secured against it in the event that you default on the repayments. They have little interest in recovering any equity you have invested in the property should the unthinkable happen.
When your Mortgage Lender arranges the mortgage valuation (which we have already established is not for your benefit) they may well suggest that the same Chartered Surveyor carry out your Independent Survey at the same time.
Many Estate Agents, who role is to obtain the highest selling price for the Vendor, are tied to Mortgage Lenders, who sell loans, and may employ a Surveyor to undertake the Valuation Survey. It appears that this is only industry where one professional adviser is able to work for several interested parties in the same transaction.
You may well be told by your lender that you have to use a surveyor from their panel to carry out your survey but this is only the case with their valuation. If you want an independent view you are fully entitled to choose your own Chartered Surveyor to truly act on your behalf.
What Type of Survey?