Level 1 – Valuation
A Level 1 valuation is a brief report that provides our assessment of the value of the property and highlights anything we believe requires further investigation; this could be related to structural or legal issues. A valuation is not a survey of the property.
- Evidence of major problems e.g. structural movement
- Evidence of major defects
- Roof coverings from ground level only
- General inspection
- Damp tests (limited tests in accessible areas)
- Visual inspection of services, such as electrical equipment or central heating, but no tests are undertaken
- Identify main construction
- Local issues e.g. mining
- Other factors e.g. legal matters
- Valuation advice
- Insurance valuation (subject to lender requirements)
A property valuation could be suitable if:
- You are buying a new home - where the property has a guarantee such as an NHBC ten year warranty
- You are remortgaging - where you already own the property and are aware of its condition
If you are remortgaging or taking out a mortgage to buy a new home, your mortgage provider normally obtains a valuation to assess the property's suitability for mortgage purposes. This is not a survey and may not contain important information regarding the condition of the property.
If you are purchasing a previously occupied property, it is our recommendation that you seriously consider a product that provides an assessment of both the property's condition and value i.e. a Level 2 or Level 3 Survey. Valuations are not automatically available on a Level 3 Survey.
Your lender will normally instruct a valuation when you take out a mortgage.
Other reports and valuations we offer
Level 2 – Survey & Valuation
Level 3 – Building Survey