 If you are a purchaser, then the Home Report legislation does not create any additional obligation for you to obtain your own report under the Home Report initiative. Indeed part of the logic behind the new system is that as a purchaser, you are entitled to review the Home Report commissioned by the vendor or their agent to assist you in making a decision to purchase.
If you are buying with the support of a mortgage lender, then in all likelihood this lender will require their own Mortgage Valuation report. In most cases, the information to complete such a report will be gathered at the time of the Home Report and the lender may approach the Home Report surveyor to obtain this information.
Other lenders are likely to commission their own report from a separate surveyor. In any scenario, the Royal Institute of Chartered Surveyors advise purchasers, "Buying a property can be a complex process. Your home is probably the largest purchase you will ever make, so having a survey makes good sense - and could save you thousands of pounds in costly repair bills."
The RICS Guide to Buying a Home is available for download here.
The RICS guide to the Home Report, for buyers and sellers, can be downloaded here.
If you would like some initial advice on what type of report might be best for a property that you are considering buying, please contact our helpline on 0845 602 1315 , or visit our main site here.
Whatever you choose, good luck with your purchase. Remember over any meaningful timescale, property remains one of the best investments that can be made!
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