Daft question re: Surveys

[Emaboo22]

Please help I'm getting myself so confused.
My mortgage has been sent off to the underwriters for approval and the banks have said they will arrange valuation survey when it comes back.
First question, if I want a Homebuyers survey is this an additional cost ontop of the valuation survey (so £300 plus £500). Or is this instead of?

Also, I've just had email from conveyancing team's surveyors offering the same service. Can they do a valuation survey instead of bank? Or does bank have to do it?

So sorry for being daft

Valuation survey is by the bank for their reference - their assessment of how much it's worth and therefore how much money they will lend. Mortgage provider arranges.

Homebuyers survey is by a chartered surveyor - general check of property for fairly obvious things that may need fixing. Usually arranged through solicitor IIRC?

Full survey, again by chartered surveyor - looks in more detail at structure of house.

They are separate things - bank/mortgage provider will do valuation, if you want to know about condition of property (advised!) arrange either homebuyer or full survey through solicitors in addition.

Not at all daft - the whole thing is mega confusing!

Usually the mortgage provider passes all its costs onto you the buyer. You can pay extra to have the same surveyor (they are independent professionals) carry out your Homebuyer's Report survey at the same time. The mortgage provider gets the valuation report and you get the Homebuyers'. No need to arrange someone else via your solicitor - not sure the solicitor would do that anyway.

Sorry Ema looks like I've got some of that wrong - it's been a while. wowfudge has laid it all out.

I guess the main thing I was trying to say was that the valuation is just that - a valuation for the mortgage lender, whereas anything else is about he condition of the property for you.

I would be inclined to think that any professional referred by a third party would be paying a commission, and possibly pass it on to me.
It's always worth getting more quotes.

We used seperate surveyors when we purchased the house just because comms were a little difficult between us and the mortgage company appointed surveyor. I don't think the solicitor ever got involved with our survey at all.

Thanks guys - this helps. It seems a bit clearer now
Now onto the next stumbling block....

I always pay for a full survey on the 5 houses I've bought as a basic survey is little more than a valuation. It's never cost me any extra for the survey because it's always picked up something I've used to knock down the price and on one occasion it stopped me buying a house with major problems the banks valuation survey missed.