The Valuation for Mortgage purposes is a limited report and is used to guide lenders in the value of the property  for loan purposes only.  This is not a survey.

A detailed inspection of the property is not carried out, and only major visible defects will be noted.   The surveyor will not inspect under-floor areas, communal roof spaces or other parts not readily accessible.   The exterior and roof of the property will be inspected from ground level only.

Most people rely on a Mortgage Valuation Report in the mistaken belief that it is a survey. Except when buying a new or nearly new property that has the benefit of an NHBC or equivalent certificate, we consider that prospective purchasers of property should consider some form of survey, and not rely entirely on a valuation carried out for mortgage purposes, based on a restricted inspection.

For more information you should contact your local Chartered Surveyor directly at any of our offices and we will be pleased to discuss the levels of inspection and costs involved for both Scheme I Mortgage Valuation Reports and Scheme II Surveys.