Rics exec advises mortgage applicants to utilise building surveys

Date:Tuesday 2nd November 2010
Author: Max Freedman

The importance of building surveys has been lauded by an expert from the Royal Institution of Chartered Suveyors (Rics).

David Dalby, residential director at the organisation, pointed out that no property is perfect and people should really aim to know what they are buying before they hand over the cash.

In his opinion, individuals need to look beyond the lender's mortgage valuation and ensure they have checked for structural defects that could cause them trouble further down the line.

"It is the biggest single thing that most people ever buy in their lives and it is probably the thing that they buy with the least information," said Mr Dalby.

He explained that there are various different levels of building survey that can be carried out, with each one providing a distinct quantity of detail regarding a property's condition.

These comments follow the publication of Rics research, which showed people who have a mortgage valuation but not a building survey often have to carry out works on their property - with one-quarter having to do so.