Metro Bank customers should see a smoother house buying process following a new partnership with Legal & General Surveying Services.
The mortgage customers of the bank will have access to Legal & General Surveying Services’ Digital Home Survey product which can be completed once the lender valuation is carried out.
The Digital Home Survey will be completed separately from the valuation. This will streamline the mortgage and valuation process for Metro Bank customers, which could lead to their mortgage offer being delivered faster.
If the valuation highlights any issues and the lender cannot lend against the property, the customer involved won’t lose any money that they would have spent on a survey if it were combined.
The Digital Home Survey was initially introduced by Legal & General in 2019, aiming to provide customers with a “jargon-free and fully visual” home buyer report.
As part of the Survey, a RICS-qualified surveyor checks the property before sending the customer a detailed report, usually within 48 hours of the inspection. During the inspection, the surveyor will assess readily accessible areas including the roof, walls, pipes, timber, and other aspects of the property. The customer will then receive a digital report straight to their computer or smartphone, with any issues graded on a traffic-light scale of importance.
If any defects or issues are uncovered during the survey, the customer will be able to source tradespeople to cost any repairs directly from within the digital report. Some customers could use trade quotes to renegotiate with the seller, resulting in a fairer price for the property.
Steve Rayers, surveying director at Legal & General Surveying Services, said: “With this new phase of our close partnership with Metro Bank, the bank’s customers will gain access to Legal & General Surveying Services’ Digital Home Survey, one of our flagship product options.
“Digital Home Survey has a proven track record – its straightforward visual format speeds up the purchasing journey, while still providing a comprehensive service.
“Buying a home may very well be the single biggest financial decision a person makes in their life, and with the addition of the Digital Home Survey, Metro Bank customers can now achieve their homeowning dreams with the best possible chance of foreseeing – and avoiding – any costly property defects or issues down the line.”
Matthew Wye, director of lending operations at Metro Bank, added: “Partnering with Legal & General Surveying Services allows us to provide our customers with genuinely tailored support as they consider making one of the most important financial decisions of their life.
“We know that buying a home can be a challenging and complex process but it doesn’t have to be this way. We are delighted to offer the Digital Home Survey to our customers.”
