Which type of survey is right for me?

Find out which type of survey is most suitable
for the property you're buying

It's important to get a survey done so you know about the condition of the property you're buying before you exchange contracts.

HSBC will request a valuation for you, known as a Standard Valuation Report. The purpose of this is to assess whether the property will be an adequate security for the loan you've requested. However, it is not a survey and cannot be relied on by you.

To find out if the property is worth the price you're paying for it, and whether it has any structural defects or needs any repairs, you need to commission a comprehensive inspection.

There are two main types of inspection you should consider:

  1. Homebuyers survey and valuation report

    What does it cover?
    This gives an overview of the general condition of the property. The surveyor will look for defects and problems that are urgent or significant and the inspection will usually concentrate on areas of the property that are easily visible and accessible.

    What type of properties is it normally for?
    Properties less than 90 years old of a conventional type and construction.

    How much does it cost?
    Costs start at around £400 depending on the type and value of the property.

  2. Building survey and valuation report

    What does it cover?
    This is a more detailed inspection and will give you a more detailed picture of the property's construction and condition and will list both major and minor defects. It will include information relating to subsidence, the condition of foundations and external walls and any advice as to any future maintenance.

    What type of properties is it normally for?
    Properties more than 90 years old, listed buildings, properties of an unusual construction, those with extensive alterations or if you're planning a major conversion or renovation yourself.

    How much does it cost?
    Typically costs £600 depending on the type and value of the property.

The content of this article is believed to be correct at the time of publication and is provided for general information purposes. When buying or selling a property you should obtain appropriate professional advice and this article is not intended as any substitute for or supplement to that advice and must not be relied upon as such