RICS’ HomeBuyer Report welcomed

Published on

A new scheme to simplify the process of obtaining condition survey information before buying a new home has been welcomed by Scanlans Consultant Surveyors.

The firm hopes that the new HomeBuyer Report will encourage more homebuyers to commission a survey into the condition of a property before purchase.

The HomeBuyer Report, newly introduced by the Royal Institution of Chartered Surveyors, uses colour coded ‘traffic light’ condition ratings, based on the surveyor’s professional judgement on the state of repair of most aspects of the property. A green rating indicates no repairs are necessary amber highlights non urgent defects that will need repairing or replacing in the future and red indicates serious defects needing urgent repair or replacement.

Simon Andrew, partner with Scanlans Consultant Surveyors LLP, said: “Only 10% or 15% of housebuyers commission a survey to find out the condition of their potential new home

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...

Nationwide ups LTV limits for interest-only and foreign national borrowers

Nationwide has announced changes to its mortgage lending criteria, increasing the maximum loan-to-value (LTV)...

Other news

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...