Valuations or Survey
mortgage glossary
One important factor when buying your home is a Survey. A valuation is a basic survey for the lenders use, it provides basic information about home purchase. A home buyers survey is more in depth and will include a more detailed report on the condition of the house or flat.
A structural survey provides information on type of construction any concerns about subsidence or unusual building materials. Often this type of survey is used on very old properties or where there is a concern about subsidence problems.
Other things to consider are the position of rivers, old mines and local amenities. These may not be covered in the survey but useful to bear in mind.
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