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VALUATION FEES AND SURVEYS
One of the costs associated with buying a home is the fee you will be charged for a valuation on the property. The valuation fee is provided to you at cost price, directly from our valuer. With ING Direct we will refund you the cost of the basic valuation fee, after the successful completion of the mortgage.
- Basic valuation
- This valuation assesses the value of the property in its current condition. We use this to ensure the property is adequate security for the loan amount
- This valuation does not seek to reveal hidden structural defects or other
issues, and so it is only for our benefit as the lender - We will reimburse you with an amount equivalent to the Basic valuation
fee around 7 days after the successful completion of the mortgage - To view valuation costs click here
- Homebuyer's survey
- As well as assessing the basic value of the property, this survey also
tells you if:- The property is in a good or poor state of repair or
- There appear to be major or minor defects
- Based on these findings and the market valuation, the surveyor will also
give you an assessment of the proposed purchase price - For a guide to the costs of a Homebuyer's survey, click here
- We will reimburse an amount equivalent to the Basic valuation fee
around 7 days after the successful completion of the mortgage
- As well as assessing the basic value of the property, this survey also
- Full structural survey
- In addition to the information in a Homebuyer's survey, this will:
- Look at technical and structural aspects of the property
- Investigate any major defect that may prove costly to rectify
or repair
- The cost of a Full structural survey is negotiated depending on the property type, age and purchase price and we will reimburse you with an
amount equivalent to the Basic valuation fee around 7 days after the
successful completion of the mortgage - With a Full structural survey, if the surveyor fails to list serious existing
faults that you later discover, you will have legal recourse
- In addition to the information in a Homebuyer's survey, this will:
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