Homeowners could benefit from consultation on home surveys launched by RICS 

 

Today, The Royal Institute of Chartered Surveyors (RICS) has launched a consultation involving both property professionals and consumers which will run until the 28th July 2019.

Changes will become mandatory for surveyors

This consultation is intended to review the existing home survey and propose changes that will improve the standard of surveys available to homebuyers.  If accepted and implemented, these new standards will become mandatory for all property surveyors.

Homebuyers need better clarity when choosing a survey

Data available indicates over the past 10 years, 75 per cent of buyers who bought a home had a survey, of these 21 per cent are uncertain about which type of survey report they had carried out.

The need to educate homebuyers is one of the main drivers for this consultation.  The RICS realise that there needs to be greater clarification about the various surveys available and why and how they differ from mortgage lenders valuations.

Changes proposed within the consultation process are to include surveyors being responsible for explaining the detail of the product and levels of service and how they differ to consumers, so that they feel informed to make the appropriate survey choice.

One, two three levels for surveys

There is also a proposal to change the naming of surveys to a number based system – with levels one to three for each category.

RICS global property director, Paul Bagust, said: “As part of our commitment to promote and enforce the highest standards in the residential sector, we are now leading an extensive public consultation to deliver a standard which ensures transparency, consistent competence and high level of service as expected from RICS professionals.

“Attaining the highest professional and ethical standards is vital to provide consumers assurance that work undertaken by home surveyors meets these standards.”

https://consultations.rics.org/consult.ti/HSS_consultation/consultationHome

 

 

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

property portfolio

Homeowners could benefit from consultation on home surveys launched by RICS 

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.