This isn't in fact a survey but rather a report prepared after a brief inspection of the property – and solely for the benefit of the mortgage lender. They are carried out by a RICS Valuation Surveyor appointed by the lender (i.e. a bank or building society) to establish whether the property provides adequate security for the amount you want to borrow. Obvious defects will be pointed out in the valuation but it should not be regarded as a full survey or as a substitute for a Building Survey or Homebuyer's Report.
Most lenders charge valuation fees on a scale depending on the value of the property. The report is basic, and all lenders disclaim any responsibility for the condition of the property.
You have no comeback against the surveyor for any defects or problems that are not picked up and you may not even see a copy of the report.
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