Homebuyer Survey - anyone not bothered having one?

[ChicRock]

Our offer has been accepted on a property. Our mortgage has been approved, a drive-by valuation of the property has been done by the mortgage company.

There's apparently no obligation to have a proper survey done. Does this sound right? Has anyone not bothered?

It's a new-ish property, about 15 years old.

Buyer of ours hasn't had a survey done, but we are a new build.

We have moved in ages so I'm not sure if this is the way it's done now?

How strange! We are buying a full 15yo property and aren't having a Homebuyers report. We probably would have if we could have gotten a surveyor to do one but there's nobody available locally and I know plenty of people that live on this estate that haven't had any major issues.

It has solar panels but a few surveyors I spoke with said that the HB wouldn't look at those in any great detail and merely flag it up as a potential issue, which we know anyway.

My solicitor didn't seem to think it was madness either!

There is no obligation to have a survey unless your mortgage lender specifically requests one (usually only if you are borrowing large amounts or buying an old or unusual property).

We didn't bother having our first or second properties surveyed. The first one was our next door neighbour's house, so we knew the property anyway! The second was a new build.

However we have had a HBS on the property we are currently buying, which is 14 years old. It's been worthwhile as it has identified some issues which - whilst they aren't a deal breaker - we have wanted to explore in more detail. We're not changing our offer or anything, but it's been really helpful to have a list of issues and concerns. We'll be using this to occupy our weekends once we move as it's basically the list of all the DIY that needs doing!! Also the HBS gives you a reinstatement/rebuild figure for your buildings insurance, which is really useful for when you need to take out cover at exchange time.

We haven't got one!
For a few reasons, my partner is a builder so has had a look and can tell what needs doing etc
We want the house so much and its such a bargain that there's pretty much nothing that the survey could bring up that we would put us off!

You don't need one if you don't want one - the mortgage company have done their valuation and are happy that the house is worth what you're paying for it, so no need to do anything else.

When my parents retired, they downsized and purchased a house mortgage free. They didn't have any surveys carried out on the house, or valuation (none needed as no mortgage) and they instructed the solicitor to not carry out any unnecessary searches like flooding risk (house on a hill miles away from water), radon gas or mining etc.

That's great, thanks folks. DH had a look at a local company last night and their sample surveys online and I've got to say they only seem to point out the bleeding obvious anyway.

DH is very handy with electrics, plumbing, etc, and is fairly confident the house is sound and we've already spotted anything that'll need doing.

Just as a voice of dissent - I imagine it's the most expensive thing you will ever buy. Why would you not just check there is nothing that needs attention? It also means you check you are paying the correct price i.e. there is nothing that you have not noticed that might be expensive to fix. I think it's a false economy.

Bumble DH just text me an hour ago to say he's booked one, with exactly the same explanation .

And you're totally right, in the grand scheme of things the survey is probably one of the cheapest costs involved in the whole move. It's being done on Friday morning.

It's exactly the same reason we booked ours. We got it done at the same time as the mortgage valuation - the combined cost was £600.

I would have a full survey, a homebuyers doesn't give any rights of recourse at all.