Your new home

House surveys and mortgage valuations

Standard mortgage valuation

This is the main valuation that lenders need to check the property you're buying is worth the money you're going to spend on it.

Mortgage valuations can cost from £250-£1,500 depending on the value of the property.

This is not a condition survey, so it won't flag up details of any structural problems or maintenance work that the property needs.

Different types of survey

Although mortgage lenders will insist on a valuation when lending you money to buy a property, there are other types of surveys you may also want to consider when buying your second home in England, Wales and Northern Ireland.

Other types of report

Condition report

This is optional when buying a home but can give you an overview of the condition of the property. It costs between £400-£900.

Homebuyer report

A full homebuyer report will tell you about structural defects and other hidden problems. It can avoid unforeseen repair bills once you've bought the property, and costs start from £450.

Building survey

This provides a fully detailed report about the condition of the property you're buying and the land it sits on. It's particularly useful for older on non-traditional properties. It typically costs between £500-£2,000.

If there's a problem with the survey findings

Whichever report you choose, if it reveals problems, go through it with your surveyor so you get a full picture of the issues and their implications.

If you still want to put in an offer to buy the property, get quotes from several local builders or tradesmen so you know what it will cost to fix the problems. You can use these figures to renegotiate on the purchase price.

You can read more about how to deal with minor and major problems on the Money Advice Service website.

Paying for your survey and your home

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How will you pay for your report?

When you're deciding which survey to go for, use our budget calculator to make sure you can afford to pay for it.
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When you have a property in mind

See how much we could lend you with an Agreement in Principle. It won't affect your credit score as we use a soft credit check.

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