Do I have to have a survey?

[KnickerBockerAndrew]

Buying my first house. I know the house and the sellers very well, and have had a builder check it over for me. I don't feel the need for a survey.

I've had a mortgage approved, which I was quite surprised about because the mortgage lenders haven't done a survey or valuation. Surely they'd do that before approving my mortgage? I'm wondering if they'll need a valuation at all since I'm putting up about 50% of the value of the house so I don't need a huge mortgage.

Any experts about to tell me if my lenders are going to turn round and insist on a survey/valuation?

I'm very surprised the mortgage company haven't asked for a valuation. Our mortgage is for 22% of the value and they've still just done a valuation. Have they approved in principle or fully approved the mortgage?

As for a survey, I would never buy without one, but the couple who just completed on my old house (they saw it once) didn't have one done. If you feel confident then it's your choice how to proceed.

Very unlikely the mortgage company won't require even a basic valuation.

I would choose to have a survey whether your mortgage requires one or not. You're relying on mates on one of the biggest purchases you'll make.

Never known a mortgage company not do a least a basic valuation. I would never buy without a survey, don't always get full one though.

One thing a survey might help with is knowing what might come up when you come to sell. Stuff that you could potentially sort while you live there, like ground water drainage, flat roof maintenance, blocked/missing air bricks, lined chimneys for wood burners, bits and bobs that do not met building regs (extensions near drain covers, lack of trickle vents on windows etc...).

So depending on the value of the house you are buying, it could avoid issues when you sell. People love a reason to ask for 1k off here, and 2k there, and annoying indemnity insurances...

I'm a bit doom and gloom, but I think worth having a survey.

I was surprised to be offered the mortgage too tbh... But apparently some valuations are done without going into the house (WTF). The mortgage is fully approved.

Ignoring your madness in not having a survey, I would have your solicitor confirm with mortgage company ASAP about the survey.
You could be in real trouble if they will not release funds at completion because they lack a survey for their paperwork as they’ve made an error at this point in the process they later correct.
Basically as I trust no one and enjoy looking for the worst in life I would want a written confirmation that they will not require a valuation to ensure I would have legal recourse if they muck about later.
However I am not an expert, just a cynic.

“Desktop” or “kerbside” valuations (I suppose to at least validate the property exists and is standing!) are fairly common with some mortgage lenders with low LTV (loan to value)

Aside from the mortgage people, if your builder has done a thorough inspection then I wouldn’t bother with a survey. I’ve bought over a dozen houses and find a survey really isn’t worth the expense. None of them has discovered anything I couldn’t see for myself. And the terms and conditions means that if a problem arises afterwards they have themselves covered by woolly language and making quite normal things seem like disasters.

Buyer beware.
If the house is new (less than 10 yrs) you can probably get away without having one. If it is an old house you need one unless you want to run the risk of there being something expensive wrong with it.
I would suggest that even if it your best mate or family selling it to you to get one.

Your mortgage provider will probably be happy with a drive by valuation for a 50% ltv loan. But as a buyer I'd want more detail.

When was the property built?
And what's the purchase price?
If you're willing to risk wasting a huge amount of money (probably a low risk, but a risk nonetheless), crack on.

@Grumpyunleashed are you me?! I trust no bugger and spend my life trying not to get shafted hence I would be getting that doc from the solicitor too.

The builder has a vested interest.

The builder is my uncle so I doubt he'd shaft me.
I'm just a bit surprised that the mortgage offer has come and no news of a survey... Thinking of getting a survey anyway now in case it pops up that they need one and that it has somehow slipped through the net.

You know when they say moving house is the most stressful thing except for divorce and bereavement? It's not even my house yet and I think I'm getting an ulcer.

I think I've also got an ulcer from moving house. Solidarity!

A survey does give you a clear idea of what needs to be done and what can wait. It gives you a better understanding of what you are buying. I would get one so you don’t fall out with your relatives over any problems that cost you more to put right then you thought.

Hawkmoth It's bonkers isn't it. I should be a stress-free process for me, first time buyer, no chain. But God, it's had legal repercussions regarding my divorce, it's made me have a massive panic about where my life is going (RIDICULOUS, I'm so lucky to be able to buy a house), the mortgage has been a long process because I'm self-employed and I needed all the papers I've ever written, looked at or been in the vicinity of in the last fifteen years.

I have known mortgage companies do “desk top” valuations in the past. Not usual but does happen

Please get the property surveyed. The property is the biggest investment you have, I almost decided not to have my house surveyed my solicitor and the estate agents said that I'd be crazy buying a house without having it surveyed. They were right you wouldn't even buy a car without getting it checked over by a mechanic. Your house is worth somuch more. I know your excited but please do get the survey done. Good luck😘

We got a survey to shut the other half’s mother up. Complete waste of £500. It just confirmed what we already knew and what the property had already been priced for by the seller.

Never had a car checked over by a mechanic either...

Our mortgage provider organise their own valuation which is a simple question of does it exist and will they be able to sell it for at least what we borrowed. If only borrowing 22% they may be happy to base their valuation on google earth.