Housing professionals have voiced support for the introduction of up-front property surveys to speed up the selling process.
In a poll of 200 industry representatives from lenders, brokers, surveyors and other firms, 71% were in favour of legislation to require up-front property surveys to be carried out.
The survey was carried out at a webinar by Countrywide Surveying Services and found that while most respondents supported this measure to speed up the home-selling process, 29% were against.
The poll also asked brokers and lenders whether they explain the difference between a valuation and a survey to borrowers – revealing that 21% did not.
Many respondents felt that buyers’ mistaken belief that mortgage valuations are for their own benefit is a key reason why they might not bother getting a more detailed survey.
Countrywide Surveying Services managing director Matthew Cumber says: “It’s clear from these results that the industry sees significant value in pre-sale surveys as a means to help streamline the homebuying and selling process.
“By providing buyers with as much up-front property-related information as possible will provide greater levels of transparency and efficiency during such a complex and emotive process.
“There remain many barriers to overcome from a consumer perspective but many of these can be addressed relatively easily via education and advice.
“As such it underlines the importance of everyone involved in the process conveying the right information and messaging around surveys and helping consumers make informed early decisions about the property they are buying.”
