Landmark Valuation Services supports home survey consultation
Landmark Valuation Services (formerly Quest), the UK’s market leading provider of survey and mortgage valuation software, has aired its support for the Royal Institute of Chartered Surveyors’ (RICS) new Home Survey Standard, which is open for public consultation.
The new standard is designed to better protect property buyers and sellers, by ensuring they fully understand the importance and benefits of commissioning a home survey prior to purchasing a property.
It will emphasise the communication between parties to making sure consumers fully understand the importance and benefits of commissioning a home survey before purchasing a property, and the level of service they will receive, as the process and language is clarified.
This will include benchmarking the service levels required for ‘Level 1, Level 2 or Level 3’ emphasising the levels and the minimum levels of service required for each one. Understanding the minimum service requirements for each level will make it easier for consumers to identify what type of survey they need.
Another important area included is to use a surveyor with local knowledge of the area, depending on instruction, who would have specialised local knowledge, such as areas prone to flooding or subsidence.
Mike Holden, Managing Director – Landmark Valuation Services said: “We’ve been supporting the surveying industry with software, workflow and mobile tech since the early 1980s. It is quite clear to us that, in that time, consumers today continue to confuse mortgage valuations with building surveys, and they simply don’t fully understand the differences between them.
“The new guidelines will make it far easier for all concerned and, as such, we fully support the introduction of the consultation and what it is aiming to achieve.”
The RICS has confirmed that the contents of all reports will remain unchanged, however a consistent language and approach across the industry will support consumers in making better informed decisions on which report is right for them, ahead of completing on a property transaction.
To take part in the consultation, visit: https://www.rics.org/uk/news-insight/latest-news/news-opinion/get-involved-clearing-up-the-home-buying-process/
For further information regarding Landmark Valuation Services, telephone 0844 844 9969 or visit https://www.landmark.co.uk/q-mobile-survey-app