Homebuyers Report - for a flat?

[sicklycolleague]

We're sale agreed on a 2-bed flat in South London. It's part of a purpose built block (though old, I would estimate c. 1900) and we are really unsure as to whether to get a Homebuyers Report. We've had a couple of quotes and it seems like for flats there's so much they don't cover and it's all a bit useless.

It is a first-floor flat in a four-floor building so no roof access and looks fairly solid, although I'm aware that is my extremely uninformed opinion. Just wondering whether anyone has any experience with this or if it's worth the £660 we've been quoted (by two different surveyors).

Many thanks in advance for any expertise anyone can offer!

I wouldnt bother personally

Thanks! Is there any particular reason with this or simply the fact that they don't cover very much?

For a house I'd never not have a survey. I don;t know about flats- if it doesn't cover much for a flat it may not be worth it, but I think I'd still have one - it doesn't have to uncover much to be financially worthwhile, and if it uncovered a big problem it would pay for itself many times over by helping you dodge a bullet.

I had mine on my flat as I was paranoid but in hindsight it was a bit pointless.

If it's leasehold then the main building and major stuff is effectively someone else's to deal with and there isn't anything you can really do about it.

What you get in a Homebuyers report depends on the individual surveyor.

I bought a flat in a block which wasn't top floor and the surveyor got into the loft space to have a look. There as other people's didn't bother even they are top floor flats with their own loft hatch. Some people got their electrics and boilers looked at, while others were told to get an expert in to look at them.

If you don't want a survey the next best thing is to go around the flat with someone you know who is a good and experienced builder/DIYer.

I'd do it. The windows could be very poor (but repainted) there could be previous problems that have been covered up, suspicious stains and so on.

Surveyor will run a damp meter inside cupboards, on outside walls too.

Anything they find might make you not want to buy it.

The bank only cares that its worth the mortgage. You care that it's worth the price.

@Annfr it's share of freehold so I think I'm a bit more jittery.

I think we are going to go for it out of an abundance of caution, and because £660 in the context of everything is probably not that much. I've given them a list of things to look at.

I think you are wise. We did the same with a share of freehold flat.