A combination of a valuation and survey to help identify faults in a property and confirm that the property is valued correctly. It is not as in-depth as a full building survey.
This is when a professional surveyor checks the structural state of a property. This is more detailed than a valuation but less detailed than the structural survey. The report is optional and you pay the bill; but, this report should pick up possible problems and may give you the chance to negotiate a lower price. And, you have more grounds to sue or get compensation from a surveyor for a poor report than you would from a simple valuation .
Whether purchasing or remortgaging the Lender undertakes a valuation of the property to ensure it provides adequate security. The charge is bourne by the borrower and increases exponentially with the valuation / purchase price. There are three (3) levels of valuation, in order of increasing detail these are: Basic Homebuyer's Report Structural Survey The more stringent the survey, the higher the fee.
A less stringent report than a full structural survey.