Choosing the Right Survey for Your New Home

Types of Property Surveys When Buying a Home

When purchasing a property, it is important to choose the appropriate type of survey to assess the condition and value of your prospective home. The most suitable survey will depend on factors such as the property’s age, construction type, and whether you plan to carry out any significant structural alterations.

At a minimum, your mortgage lender will carry out a valuation for lending purposes to confirm the property’s value and its suitability as mortgage security.

However, you may wish to commission a more comprehensive survey to understand the condition of the property in more detail. This is particularly advisable if the property is older, has had previous structural issues, or if you intend to undertake substantial renovations.

Below is a summary of the three main types of property survey:

1. Valuation for Lending Purposes (Basic Valuation)

A valuation for lending purposes is usually required by your mortgage lender. It helps the lender confirm that the property is worth the amount you intend to borrow and that it offers adequate security for the loan. This is not a detailed survey and should not be relied upon to identify structural or maintenance issues.

• Typically arranged by the lender.
• May be paid for separately or included in the mortgage product.
• Often involves internal and external inspection, although some lenders may use a desktop valuation.
• Many lenders offer this free for residential purchases.

2. Homebuyer Report (Level 2)

A Homebuyer Report is a more detailed inspection than a basic valuation and is suitable for conventional properties in reasonable condition. This is an optional report that must be arranged and paid for by the buyer.

• Should be commissioned after your offer has been accepted and ideally before submitting your mortgage application.
• Identifies visible defects and issues such as damp, insulation problems, and timber decay.
• Uses a traffic light system to rate the condition of each part of the property.
• Does not involve invasive checks such as lifting floorboards or testing services.
• Suitable for properties over 10 years old in a generally good state of repair.

Estimated cost: From £400 to £1,000, depending on the size and value of the property.

You may choose to instruct an independent RICS-accredited surveyor or opt to pay for the lender’s surveyor to complete the Homebuyer Report alongside the valuation (if offered).

3. Building Survey (Level 3)

A Building Survey is the most comprehensive type of property inspection and is recommended for:

• Older properties.
• Properties of non-standard construction (e.g., timber-framed, thatched, or listed buildings).
• Homes that have undergone significant alterations.
• Buyers planning major structural renovations.

The survey includes:

• A detailed assessment of the property’s construction and condition.
• Identification of defects and repairs required.
• Estimates of repair costs and advice on future maintenance.

Estimated cost: From £500 to £1,300 plus VAT.

You will need to arrange this type of survey yourself. It is advisable to use a RICS-registered surveyor and to obtain several quotes for comparison.

Important Information

Your home may be repossessed if you do not keep up repayments on your mortgage.

This guide is for general information purposes only and does not constitute financial or mortgage advice. Always seek independent, regulated advice based on your individual circumstances. Product availability, eligibility criteria, and terms may change. Information is correct as of August 2025.