Right, let’s bust a myth.
Every year, thousands of homebuyers fall into the same trap thinking that the mortgage survey (also called a “mortgage valuation”) is a comprehensive check on the property’s condition. Spoiler alert: it is not.
Recent figures show that over 85% of homebuyers in England, Wales, and Northern Ireland are purchasing properties without any form of a home condition survey (The Intermediary, 2025). That’s a lot of buyers relying solely on a lender’s brief valuation rather than a comprehensive health check of the property often leaving them exposed to costly surprises later.
Let’s break down what a mortgage survey actually is and why it’s not nearly enough.
Mortgage Valuation: The Lender’s Safety Net Not Yours
A mortgage valuation is for your lender, not for you. Its sole purpose is to assess whether the property is worth the amount they are lending.
Here’s what a mortgage valuation usually lacks:
- Often no physical inspection: sometimes it’s just a desktop or automated valuation, with no assessment of the property’s condition.
- Advice is for the lender only: it doesn’t offer advice or flag issues to you, the buyer.
- You may not even see the report: usually, the lender will not share the report with the buyer and is under no obligation to do so.
It essentially just tells the lender if the house is worth the cash they are fronting.
So if you’re thinking the bank says it’s fine and everything is in order, it’s time to pause. The bank’s green light doesn’t mean the property is problem-free, but it just means it is worth the loan.
A mortgage survey will not tell you about the potential for rogue roof leaks, what to consider to assess the risk of damp, or provide you guidance on how to spot any structural red flags like subsidence.
So what survey do you need?
Your first port of call should always be Survey Shack. Our app helps you uncover valuable insights about the property’s condition and should be everyone’s first step.
Have you ever walked around a property viewing thinking you should be more thorough, but weren’t quite sure what to look for? You’re not alone. Most buyers don’t know how to spot telltale signs of deeper issues and that’s exactly where Survey Shack comes in.
Our app bridges the gap between casual viewings and formal surveys. It helps you to assess visible property risks early in the process before you get emotionally or financially committed.
Designed by qualified surveyors, the app guides you through your free guided property inspection with easy-to-follow instructions, teaching you along the way. You don’t need to be an expert – Survey Shack gives you the guidance on the things to look for, all backed by professional surveying knowledge.
It’s only £29.99 and you will gain actionable knowledge from the start, without committing to a full survey cost up front.
It’s not a replacement for a full RICS building survey, but it arms you with the awareness and confidence to ask better questions, flag concerns early, and avoid being caught off guard.
In short, it helps you turn a gut feeling into an informed decision. And when it comes to buying a home, one of the biggest investments you will ever make, that’s exactly what you need.
We have teamed up with trusted partners to help you tackle any issues identified in your property survey with confidence. Whether it’s structural engineers, drainage surveys, or anything in between – we’ve got you covered. Read More Here.
Condition Survey versus Mortgage Survey
The key difference? A condition survey, whether done by you or a qualified surveyor, is for your benefit, not the bank’s. A mortgage valuation exists solely to protect the lender’s interests.
There are several types of surveys available. Here’s a quick overview:
- Survey Shack: Guided property inspection helping you to uncover valuable, surveyor-inspired insights about your property’s condition and the local market. Great as a first step before you invest in any professional surveys. Read More Here.
- Condition Survey (Level 1): A basic visual check. Frankly? Survey Shack’s guided inspection gives you more insights, for less money.
- HomeBuyer Report (Level 2): This type includes a more thorough visual inspection of all reasonably accessible areas and highlights any serious or urgent issues that could affect the property’s value, though it does not offer detailed advice on repairs or costs.
- Full Building Survey (Level 3): Often considered the most detailed analysis a general surveyor can provide, usually recommended for older or unconventional homes.
- Specialist Surveys: From asbestos and damp to structural surveys, these focus on specific issues and provide in-depth assessments.
Before spending a small fortune on a professional survey, download Survey Shack and try the guided inspection first. It will help you identify early red flags and figure out exactly what level of survey, if any, the property actually needs.
What Could Go Wrong Flying Blind?
You would be surprised what even a quick guided inspection can uncover. Here are just a few examples flagged by Survey Shack reports – the kind of things that are often missed during casual viewings:
- A roof nearing end-of-life: From moss-covered slates to poor drainage and dated materials. Replacing a failing roof isn’t a small job or a cheap one.
- Unverified loft conversions and structural changes: That lovely extension or skylight may look modern, but without evidence of Building Control sign-off, you could inherit a legal and financial headache.Professional surveyors favourite the ‘get your solicitor to confirm it has building regs sign off’ – well, you can do that without a hefty surveyor charge!
- Hidden damp risks: From breached damp-proof courses to elevated ground levels, even ‘solid-looking’ walls can harbour long-term damp issues. Decorative finishes may hide the symptoms, but not the cause. You just need to know what to look for.
- Window and glazing concerns: Failing seals, condensation, and lack of certification for post-2002 double glazing can lead to unexpected repair costs and legal hold-ups, especially in listed properties.
- Chemical Damp Proof Course (DPC): a red herring, not a remedy. By the end of your survey, you will know exactly what a DPC is and the do’s and don’ts that matter.
Survey Shack helps you spot the signs, risks, and red flags that matter, transforming house viewings from a surface-level inspection into a comprehensive and informed evaluation of what could be your future home.
“Surveyors Near Me”? You Can’t Get Any Closer Than Your Pocket
Whether you’re searching for a home condition survey, a homeowners survey, wondering if having a survey on a house is worth it, or just Googling “cheapest house survey,” it doesn’t get more local than your own eyes and ears and more affordable than £29.99.
Survey Shack is like having an experienced, friendly surveyor in your pocket, but for a fraction of the price.
So next time someone says “I’ve had a mortgage survey, I’m good,” you can gently (or smugly) explain the difference between a mortgage survey and a home survey before buying.
Whether you’re buying a one-bed in Tottenham or a listed cottage in the Cotswolds, the principle is the same: don’t buy blind.
See more. Know more. Choose right.
Download Survey Shack Today!
