There are plenty of times during your property-owning life when you might want to consult a Chartered Surveyor, obviously including when you buy a house, but also for other valuation purposes like insurance.
But what are the things to consider when choosing a firm of RICS surveyors? Here’s our list of some of the most important things to keep in mind.
1. Location
Location is important, you will want a surveyor with local knowledge. Some large national RICS firms will sometimes send their surveyors many miles out of their normal area of practice, but this is less than ideal when surveying houses. Ideally you want a surveyor who understands the local market, planned infrastructure projects, ground conditions and common structural problems. Torus Chartered Surveyors in Altrincham can provide property surveys in Manchester, North Cheshire and other nearby areas. Just ask if you’re not sure whether your address is within range.
2. RICS Regulation
RICS is the Royal Institution of Chartered Surveyors and by using a RICS-regulated surveyor like Torus, you know you will receive a high standard of service.
3. Reviews and recommendations.
For most people buying a new house is a once in a 5 -10 year experience. Maybe you weren’t impressed by your last surveyor or maybe they are no longer available. When choosing a firm of surveyors ask friends and family for recommendations. Or, better still, ask people who have regular contact with surveyors for their recommendations, such as estate agents, solicitors or financial advisers. Have a look at online reviews, you can check social networks, Google reviews and third-party websites for honest reviews by past customers.
4. Price
It’s always worth getting a quote and including price in your decision. Remember that not all surveyors are the same, and it’s often worth paying a little extra for better service and in-depth inspections, in exchange for the peace of mind this brings.
How will the results of your property survey be given to you? For example, at Torus we use a simple traffic light system with the most severe damage and repair work highlighted in red, so you can immediately see what needs to be addressed first.
7. Contact
Finally, how easy is it to contact your chosen surveyor? Do they reply promptly to emails or answer the phone when you call? At Torus we pride ourselves on offering good communication to all our clients.
So, when choosing a firm of surveyors look no further than Torus. Give us a call today on 0161 929 7892 and let’s start the conversation.
Whether you’re looking for your first home or forth, navigating the housing market can be a daunting and time consuming process.
After all, this is one of the most significant financial decisions you’ll ever make in your lifetime, so it’s worth doing your research and setting out any priorities on what features are important in finding your ideal house and to ensure there are no hidden issues.
Before you begin your house search, you should determine your budget first in order to make a decision that will accommodate both your finances and goals.
Look at how much savings you have in what can be used as a deposit, including any extra fees and costs, as well as asking yourself questions on whether you want a home with a garden, driveway or certain number of bedrooms. Once you obtain a mortgage of a certain amount, you will be able to look at properties within your price range.
Tip: Don’t be put off by purchase price if it’s slightly above budget as some sellers are open to offers, so don’t be afraid to step up and ask for a price reduction.
Location & size
Next is all about location, location, location. Of course, we all want a desirable area to live in and it’s important to take into consideration distance from the nearest shops, schools, recreational places, and how easy it is to access travel routes and commute to work.
Depending on your preferences, some homebuyers don’t mind being on the main road, whereas others prefer a quieter setting with a lot on a cul-de-sac or side road.
It’s also worth checking out if there are any ‘up and coming’ areas where house prices are reasonable and expected to increase over time.
Size of lot
One of the most important factors to consider when buying a house is how much space the lot and property has to offer. It’s size can have a major impact on your home’s use and potential, especially if you want to have an extension, or build an outdoor space such as a garage, workshop or summer cabin in the future.
As you view a property, check its dimensions and see how each room will work for you, your partner, or family if it means altering its layout. Privacy is another important element for the length and shape of your garden or driveway.
Home appliances, fixtures and fittings
Everyone wants to get their money’s worth, and for an enjoyable living experience, it’s nice to have quality home appliances, fixtures and fittings.
Taking the time to estimate the age and condition of the washer, boiler, stove or even fireplaces ensures all systems are up to date, and suited to your preferences, in case an upgrade is required. You can also check to see how convenient it will be to use or add certain appliances and smart gadgets, fixtures and fittings to your home, enabling you to customise it the way you want to.
Age of the house
Finally, the age of the house you’re buying can make or break whether you want to purchase it or not. Older houses are known to have a more charming appeal, however in the long-term they may require more maintenance work, so long as your willing to put in the time and budget into renovating. If you’re only interested in a newly-built property, then this can be irrelevant, however, that doesn’t mean you should buy-pass the condition of any property you will be viewing, which is why condition and homebuyer reports are vital for an extensive inspection.
If you’re looking to buy a home, Torus Surveyors can assist you choosing the right type of house survey, explaining house survey costs, and their respective advantages. Contact Torus Chartered Surveyors today on 0161 929 7892 or email info@house-survey.co.uk and we’ll be happy to help.
Torus Chartered Surveyors are proud to provide a RICS Help to Buy Valuation for our customers. We offer a guarantee they will be accepted by Target, so you can have confidence that you will get all the information you need, with no unexpected extra costs.
As independent RICS Registered Valuers, you get the best of both worlds – confidence in our experience and expertise, with the benefits of our highly personable approach to property valuations.
Our RICS Registered Valuers are a phone call away if you have any questions before or after your RICS Help to Buy Valuations, and we’re always happy to help.
What is a Help to Buy Equity Loan?
Help to Buy is a government loan scheme to top up the amount of money you have available when buying a house. It’s available when you buy a new-build property and you can borrow normally up to 20% of the full house price from the government.
Normally there’s no interest during the first five years, but the standard payments you make are only to cover the cost of the interest from year six onwards. If you want, you can repay the equity loan. Normally, you can either pay it off in full, or pay a partial sum of at least 10% of your property’s value.
Why a RICS Help to Buy Valuation is important
The amount you repay is based on the properties current market value, not on the amount you borrowed. If values have increased you will need to repay the original loan plus 20% of any appreciation. Conversely if prices have decreased the amount you repay will have reduced by that percentage too.
Torus Chartered Surveyors can carry out a RICS Help to Buy inspection in about 30 minutes, including a full check of the internals and externals of your property, its condition and any major defects.
Houses are valued using the comparable method of valuation as outlined in the Royal Institute of Chartered Surveyors’ (RICS) Red Book. Following your inspection the valuer will find similar properties to yours which have recently sold and make appropriate adjustments.
The market value for your property is defined as “The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion”
Our subsequent valuation report is guaranteed to comply with the requirements of Target HCA, the company appointed by Homes England to deal with the interest and repayments on your equity loan.
The Valuer will visit your property to take measurements and collect other data needed for your valuation, and then compile a 3-4 page report. Target will process this and provide you with a redemption figure to tell you how much you will need to pay back.
To find out more, contact Torus Chartered Surveyors today on 0161 929 7892 or email info@house-survey.co.uk and we’ll be happy to answer any questions you might have about RICS Help to Buy Valuations.
If, like most people you are funding the purchase of your new home with a mortgage, your lender will likely want to satisfy themselves that your home provides them with financial security should you default.
Nowadays lenders use a variety of methods to this, they may undertake an Automated Valuation Model (AVM) where a computer program checks your purchase price. They may ask a surveyor to undertake a Desktop Valuation where your purchase price is checked by a surveyor using a computer many miles away, or they may request a more traditional valuation inspection.
It is important to consider that even if your lender requests a Surveyor physically inspect the property, they are not checking for your benefit. They are looking at the house as loan security. Now consider the size of your deposit; if your new house needs a new roof costing £5,000, but you are putting down a 10% deposit at £30,000 there is a good chance that your lender wouldn’t be overly worried about this.
In your lender’s eyes; in the worst case scenario, if they have to sell your property they can afford to sell it for £30,000 less than your purchase price, the cost of a new roof may be irrelevant to them. This is why instructing your own independent survey undertaken by an experienced Chartered Surveyor is only sensible course of action when buying a new house.
What happens during a house survey depends on the level of survey you have requested. At Torus Chartered Surveyors we offer three types of pre-purchase property survey:
You can see from the estimated length of time taken that a RICS Building Survey is the most in-depth option, whereas a RICS Condition Report is a less comprehensive check.
During a condition report, A surveyor will inspect the property inside and out. The roof space is inspected from an access hatch if it is safe to do so, the loft would not be entered. The covers to the inspection chambers of the underground drains are not lifted. Underfloor voids are not inspected. The services are visually inspected.
During a HomeBuyer Report the inspection and report is more detailed than a condition report but less detailed than a building survey. A surveyor will inspect the property inside and out. The roof space is entered and fully inspected if it is safe to do so. Where feasible the covers to the inspection chambers of the underground drains are lifted.
An inverted head and shoulders inspection is undertaken of underfloor voids where possible. The services are visually inspected. The report can also contain a Market Valuation and Insurance Reinstatement figure for an additional fee. The report will focus on matters that may affect the value of the property if they are not addressed.
If you opt for the most comprehensive RICS Building Survey, the surveyor will conduct a detailed visual and structural inspection of the property. The roof space is entered and fully inspected if it is safe to do so. Where feasible the covers to the inspection chambers of the underground drains are lifted and seen in operation. Underfloor voids are fully inspected where possible and safe. The services are visually inspected and seen in every day use where the owners consent is given.
What to expect in a house survey
In all cases, Torus Chartered Surveyors provide a personable approach. We encourage our customers to speak to our surveyors directly and ask any questions you might have about the inspection process.
We make sure you have access to our surveyors by telephone both before and after the physical inspection, so you get end-to-end service from us.
No matter what level of survey you choose, you’ll also get a written report of our findings.
A RICS Condition Report will include reports on main elements like floors, walls and roofs, and any significant defects.
A RICS HomeBuyer Report can include a market valuation (please ask for this in advance) and advice on any major maintenance that is likely in the future.
A RICS Building Survey, formally called a Full Structural Survey, is the most detailed type of pre purchase survey we offer.
If you would like to know more or have any more questions about the differences between property surveys and what to expect on the day, please get in touch by calling 0161 929 7892 or info@house-survey.co.uk. All enquiries are welcome and one of a friendly and helpful staff are waiting to help.
Welcome to Torus Chartered Surveyors. We are fully qualified, experienced RICS Chartered Surveyors, Registered Valuers and Registered Expert Witnesses specialising in residential property throughout the North West and Greater Manchester.
On our website you’ll find out about all of our services, what we cover, and how we can assist you in choosing the right type of house survey, showing house survey costs and their respective advantages. We will also be updating you with the latest news and interesting articles related to house surveys, home valuations and reports, as well as general advice to those who might be planning to build or buy a property.
Our story
Torus was founded in 2019 by Chartered Surveyor Robert Armstrong, who had previously worked for a number of large national surveying companies, most recently as Legal and General’s Staff Surveyor covering Manchester & Cheshire.
Within the last 10 years, large corporate firms of surveyors have increasingly concentrated their resources on looking after their larger corporate clients such as mortgage lenders. Robert noticed an increasing gap in the market developing as many private individuals were finding it increasingly hard to obtain good quality independent residential property advice at an affordable price.
Torus Chartered Surveyors was designed to provide this service to private individuals as opposed to big companies. We are an independent firm of Chartered Surveyors based in Altrincham, where we pride ourselves on proving clients with a professional, comprehensive and friendly service in helping people navigate their way in the property market, whether it’s for buying, selling or owning.
Our services
All Surveyors within the company are members of the Royal Institution of Chartered Surveyors. With such vast knowledge and experience, we offer a wide range of surveyor services appropriate to your individual needs, including:
Visit our website for more information about each of these services.
Which is the right survey for me?
Buying a home is one of the most expensive financial decision you will ever make and it can be a daunting prospect, especially if you’re a first-time buyer. Before you purchase your new home, it is essential you obtain your own independent advice as to the condition and value of the property.
A mortgage valuation is merely designed to protect your lender’s interests. It is not intended to be relied upon by you. Increasingly large lenders are relying on computer based Automated Valuation Models (AVMs), a surveyor may not even inspect the property. If they do, many defects which you would be critical to your decision are inconsequential to your lender and therefore would not be covered in a typical Valuation Report.
As home survey specialists, Torus Chartered Surveyors can provide you with all the information you need, offering clear, honest and direct advice on legal property matters, inspections, any building costs on repair works, as well as opportunities of home improvement.
If you would like to discuss your next property purchase with our expert team, or obtain an instant quote, please get in touch with Torus Chartered Surveyors on on 0161 929 7892 or info@house-survey.co.uk and we’ll be happy to help.
