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House has gone on market and we had to spend £400 on Home Report. The surveyor spent 20 minutes in the house and produce something only slightly more detailed than an old school valuation report.
We have been lucky enough to get an offer on the house, the buyers mortgage lender in insisting on them getting a survey done, charging them for the priviledge and using the same surveyor that was here only 2 weeks ago.
Meanwhile, we plan to offer on another local house. It has a home report in place that is up to date and produced by the same surveyor as my house. My lender wants to charge me £345 for a new valuation survey, guess which surveyor they will be using!!!!
I will have spent nearly £900 on surveys (including the mortgage lenders mark-up) and my buyers will also spend several hundred pounds.
I appreciate that we are very lucky to have sold but how on earth is this ridiclous system of duplication meant to help a struggling property market get back on its feet?
It is an absolute bloody disgrace.
Thought they'd scrapped them, obviously not.
In principle they could have worked if every seller was forced into having a proper survey done. It's a pain though as even with the full HIP there was no where near enough information to make them useful. For the house we bought we looked at the HIP then had to go and get a full survey to do the job properly. Luckily we didn't have the purchase fall through otherwise we would have to pay out again.
The whole buying a house thing is full of charges, many of them pointless or over the top (estate agent fees!)
forum categories, whats the point? 😀
Home Reports still needed in Scotland.
Sorry about wrong forum, only ever go to summary nowadays, forgot they are split by Bike and Chat