The HomeBuyer Report is a Home Survey for buyers of property in reasonable condition and of standard construction (brick and tile). 
It is less costly than a Building Survey (also known as the Full Structural Survey) yet still delivers a detailed report on any defects and problems that may affect a property's value. It is clearly set out and contains an Easy Condition Rating (see left).
Unwary home buyers can be caught out by confusing the lender's mortgage valuation with a survey. Always bear in mind that the mortgage valuation is for the lenders benefit, not yours.
Even if you have no concerns about the property you wish to purchase, only a HomeBuyer Report or Building Survey will give you an accurate picture of your future home's true condition and value. Wouldn't you want to know if your dream home is actually a money pit?
Savvy buyers follow the Council of Mortgage Lenders (CML) formal recommendation to get a HomeBuyer Report before they purchase a property. The survey protects against unexpected repair costs, helps you negotiate a better property price in the event of defects, and provides peace of mind about both the condition and purchase price of the property. The differences between survey types are detailed below:
| Mortgage Valuation | HomeBuyer Report | Building Survey | |
|---|---|---|---|
| For a home purchaser looking for a survey of the property |  | | |
| For a Mortage Lender requiring only a valuation |  |
| Mortgage Valuation | HomeBuyer Report | Building Survey | |
|---|---|---|---|
| Identifies possible problems |  | | |
| Can help you negotiate a better property price | | | |
| Tells you the condition of your property | | | |
| Helps avoid unexpected costly repairs after you move in | | | |
| Easy to understand layout so that you can quickly find the details you need | | ||
| Independent valuation to help prevent overpaying for the property | |
| Mortgage Valuation | HomeBuyer Report | Building Survey | |
|---|---|---|---|
| Report from a RICS Qualified Surveyor | | | |
| Report on construction and condition of property following visual inspection | | ||
| Report on construction and condition of property following visual inspection | | | |
| Clear traffic light rating | | ||
| Highlights hazards/defects needing urgent attention | | | |
| Information for your Conveyancing Solicitor | | | |
| Professional advice on reparis and maintenance | | | |
| Building reinstatement costs for insurance purposes | | ||
| Suitable for properties 1850 to date and standard construction | | | |
| Suitable for an older or extensively modified building or one in need of modernisation | |
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