When buying or selling a property it is important to be aware of the different types of building surveys on offer. When your purchasers' surveyor wishes to visit your property, make sure they confirm the type of survey they are to conduct. A mortgage valuation will take no more than an hour, whereas a full structural survey may take several hours with the surveyor needing access to all parts of the building, including the roof and basement.

Even professional developers are caught out when assessing the condition of a building. We recommend that all our clients think very carefully when considering the type of survey that they instruct on their new home. An initial few pounds saved on a cheap survey can work out to be very expensive when a serious defect is uncovered in a property at a later stage.

Basic Mortgage Valuation
When you apply for a mortgage, the lender will require you to carry out a Basic Mortgage Valuation on the property. This gives your mortgage provider a valuation of the property's worth and conformation that the building is intrinsically sound. The main aim of this type of survey is to assess whether the property represents a suitable security against the amount of the mortgage requested.

Homebuyers Survey and Valuation (HSV)
This survey is done to a precise format set out by the Royal Institute of Chartered Surveyors (RICS). The aim of this survey is to provide a snapshot of what the overall condition of the property is and to identify which areas are in need of further tests or more specific investigation, rather than detailing every aspect of the property. Wiring, drainage and gas are not included in the survey, so many people choose to have further reports carried out on these areas as well. It is cheaper than a full structural survey, but is not suitable for unusual properties, particularly old properties or those in need of considerable renovation.

Full Structural Survey
This type of survey is much more detailed and provides a comprehensive report about the current condition of the property. This is the most thorough type of survey available and can take several hours to complete. All accessible parts of the property should be examined and if you wish to have any specific areas looked at, we recommend this type of survey.