Survey with mortgage company?

[moveblues]

Our mortgage company has offered a level 2 homebuyers report or level 3 buildings survey while doing a valuation (£199). The level 2 would be £300 more. Level 3 would be £500 more.
They get eSurv or countrywide to do it.
This is much cheaper than the rates we have seen online.
What are the pros and cons to having a survey through the mortgage company alongside a valuation?

Bump, can anyone help?

Sorry not helpful, we had our valuation on Friday but the broker only presented it as a valuation, no option of 'upgrading'. Survey will be booked separately.

I suppose I would look at the company carrying it out, their reviews and the lead time of other surveyors, I think some areas have had backlogs although it's fine near me at the moment.

I'm a FTB so not sure if there is a risk that the mortgage company might withdraw the mortgage offer if the survey threw up issues?

@Summersdreaming

Sorry not helpful, we had our valuation on Friday but the broker only presented it as a valuation, no option of 'upgrading'. Survey will be booked separately.

I suppose I would look at the company carrying it out, their reviews and the lead time of other surveyors, I think some areas have had backlogs although it's fine near me at the moment.

I'm a FTB so not sure if there is a risk that the mortgage company might withdraw the mortgage offer if the survey threw up issues?

If the survey throws up issues that serious, your solicitor will have to tell the mortgage company as they also act for them. So a private survey doesn't help in that regard.

I chose to pick my own surveyor, on recommendation, so I could chat with them etc. Still turned out to be crap, but not sure I would do differently next time (ie I'd still pick my own, just not the waste of space I did use)

I did this for my last purchase and the lender used a local surveyor. He was great and pretty much gave me a structural survey for the price of a homebuyers. I'd have no hesitation in doing it again; alternatively I'd happily instruct that surveyor again. He also picked up some horrors on the house I originally offered on, and gave advice on likely costs for any work that needed doing. That was via NatWest.

There are no real cons. You still get a copy of the report to see and you save quite a bit of cash.