The Phillips & Co

RICS HomeBuyer Report


Homebuyer service

Are you buying or selling a home?

  • How do you know what is a reasonable price to pay for the property?

  • How can you find out if there are there any serious risks or defects to that property that require urgent attention?

A mortgage valuation is not a survey.

The new RICS HomeBuyer Report has been designed with you in mind and is now available.

With fees starting from under £200 can you afford not to have a survey?

The RICS HomeBuyer Report has a crisp, modern appearance and is designed to be easy on the eye as well as simple to read and understand.

The form is written in plain English and broken down into sections which report on:

  • What the surveyor looks at and how the inspection is carried out

  • Summary of condition ratings and the surveyor's overall opinion of the property

  • Features of the property

  • Elements outside of the property

  • Elements inside of the property

  • Services

  • Garage, permanent outbuildings and grounds

  • Issues for your legal advisers

  • Risks to the building (including damp, timber and structural movement), grounds, people and other

  • Market value

  • What to do next

  • Maintenance notes

  • House diagram

The Phillips & Co Homebuyer Report will include full colour digital photography where appropriate and can be emailed directly to both you and your solicitor to speed up the house buying process.

We are also happy to provide verbal feedback on the day of inspection and offer future verbal advice on matters concerning the survey at no extra cost.

 

For buyers
 

Benefits of the HBR to buyers

  • Possibly enable renegotiation of agreed purchase if unknown issues are flagged before legal commitment to purchase 

  • Allows reflective thought and may prevent an expensive mistake being made 

  • If purchase proceeds the buyer has an understanding of the property to assist in its future occupation and enjoyment 

  • Legal status of the buyer remains caveat emptor (let the buyer beware)

  • A mortgage valuation is for the lender, it is not a survey; the HBR is and it is designed for you
     

The report aims to help buyers

  • Make a reasoned and informed decision on whether to go ahead with buying the property

  • Make an informed decision on what is a reasonable price to pay for the property

  • Take account of any repairs or replacements the property needs

  • Consider what further advice should be taken on board before exchanging contracts

Please click here for fee details and to obtain an individual quote.

 

Please, please remember these two things:

1) A  mortgage valuation is just that, a valuation to ensure the amount of a mortgage on a property is covered by the value of the property, it is for the lenders purpose and is NOT a survey.

2) It is unlikely that an Estate Agent will recommend a purchaser has a survey carried out, it is not in their or their clients interest to do so. They are NOT working for you, but we will be!

 

NB: The Consumers Association "Which" magazine and the Council of Mortgage Lenders both advise that it is prudent to arrange your own survey because the mortgage valuation report is prepared for the lender and only answers questions regarding the appropriate security of the loan.

 

Please Click the Links Below For Further Information.

 

Please click here for fee details and to obtain an individual quote.

 

I've had a Mortgage Valuation, why have another survey?

RICS Description of the HomeBuyer Report

Report example

RICS Guide to choosing between Surveys