When buying a property you need to think objectively; the money spent on a survey could save you thousands by providing ammunition for negotiating a price reduction – or by making you think twice about buying at all.
Prospective buyers are often guided by a common misconception that a surveyor works on behalf of both the buyer and a lender – but this is not the case at all.
Graham Ellis, of RICS, explains: ‘One of the most important message to get over is that a buyer is entirely free to choose their own surveyor; a survey is for them, not the lender.
‘It can get confusing, though, as lenders may offer the option of a survey at the point of the mortgage sale as part of a package with the valuation report (in fact many lenders and brokers refer to the valuation as a mortgage survey to add further confusion!) but there is no compulsion to take this up.