What are the different types of valuation fees for?
There are three types of valuation reports available, generally all payable by you for the use of the lender, as it allows them to assess the suitability of the property as security for the loan. 1. Mortgage Valuation: The simplest form of survey – intended to check whether or not the property offers suitable security for the loan. Solely for the benefit of the lender although you will normally receive a copy of the report. 2. Home Buyers Report: A concise summary on the state of repair and condition of the property, including a valuation. Although not generally suitable for large or period properties, its main aim is to advise the purchaser on whether or not the house is worth the purchase price and to provide a reasonable level of guidance in relation to the condition of the property. 3. Full Structural Survey: A detailed inspection of the property which is especially useful if you are purchasing a large or older property, or even where extensive alternations have been made or are pr
