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Mortgage Glossary: Surveyor

Surveyor

A surveyor is a person qualified by the Royal Institution of Chartered Surveyors (RICS) to carry out valuations and surveys of properties.

Your mortgage lender will require a valuation survey to be carried out to make sure the property is actually worth enough to cover the mortgage you wish to take out. It's in your interest to have a more detailed survey as well which may disclose structural defects which may not affect the mortgage offer but could put you off buying.

You may want a structural survey which can be quite comprehensive or a less inclusive survey which is commonly sold is a homebuyer's report.

Get professional help from a qualified independent mortgage advisor and see how much you could save on your mortgage payments. There's no obligation, just plain good advice.

See also: Financial Services, Mortgages