When you buy your first home in Hull, it is probably going to be the biggest financial commitment that you will have made in your life – so it’s a fairly big deal! And the property that you are considering purchasing in Hull is presumably going to be your home for a little while, so it’s probably best to know a little bit about the property before you buy, and this is what a survey will allow you to do.
There are 3 different types of property surveys that are often referred to as a mortgage valuation, homebuyers report or a full structural survey.
We will explain each one for you…
A mortgage valuation (Sometimes also called a lenders valuation) is a basic valuation that is carried out by a surveyor who has been instructed by the lender to assess the property in Hull that you are buying for lending purposes. They will be checking to ensure that the property in Hull is worth what you are paying for it, and also if they are happy with the property in Hull itself and that it is good security. A mortgage valuation is not a detailed report but can sometimes pick up on things that might require a little further investigation. A mortgage valuation can often be free with lenders, although there are times when a charge may apply with certain lenders.
A home buyers report is a detailed report that will cover safety and highlight any problems that the property in Hull might have. This includes things like rising damp, or anything that doesn’t meet building regulation. Some lenders will allow you to upgrade to a home buyers survey and this can sometimes be cost-effective. This type of report is an independent report of the property by a qualified expert.
A full structural report should be something that you consider if the property in Hull is not of standard construction, or if it is an older type of property. This is a more detailed report about the property. This will highlight to you any issues that you might want to investigate further before committing to buying the property. Again, some lenders will allow you to upgrade to a full structural survey and at times it can be cost effective to do so.
All of our Mortgage Brokers in Hull are from Hull and are familiar with the local area. We deal with different types of scenarios all day; every day and we supply the highest of quality advice and service.
The ‘I Am A Mortgage Broker’ Team are based in Hull and will go above and beyond to help all of our clients to ensure they get an excellent service.
We can accurately work out how much you can borrow and how much of a deposit you will need.
We will guide you through the whole process from the initial telephone call, right through to you getting the keys to your new home.
We offer Free Mortgage Appointments to all of our customers in Hull.
If you would like to talk to a mortgage broker you can rely on in Hull, then contact us today by either calling, sending a message or book an appointment online through our website.