What is a property survey and do I need one?
A mortgage valuation is carried out for the lender's benefit, to confirm the property is worth what you're paying for it — it isn't a detailed structural check, and you may not even see the report.
A survey is a separate, more detailed inspection carried out for your benefit, ranging from a basic condition report through to a full structural survey for older or unusual properties.
It's generally worth commissioning your own survey even though it's an extra cost, particularly for older properties or anything with visible signs of wear.
Your home may be repossessed if you do not keep up repayments on your mortgage. Mortgage availability, eligibility and the mortgage options presented depend on individual circumstances and lender criteria.
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