Government’s Help to Buy Scheme – Success or Failure?
The government’s Help to Buy scheme has been in the news ever since it was first announced. The initiative, which aims to help first-time buyers onto the property ladder, has met with a lot of criticism. The 15% interest-free loan offered by the government allows buyers to get a mortgage
What is the Difference Between a Mortgage Valuation and a Homebuyer Survey?
There are many different survey options available to you if you are looking to buy a property. With all the various options, it can be hard to know which one you need. From mortgage surveys to building surveys, each one has a different role and purpose. Where it often gets
Help to Buy Scheme for First Time Buyers
Due to the recession, first time buyers are struggling to get onto the property ladder. The combination of tighter wages and rising house prices means that they are finding it difficult, if not impossible, to save up the required deposit for a mortgage. Even if they can, UK lenders are
Homebuyer Survey or Building Survey – What Do I Need?
People buying houses often make the mistake of thinking a mortgage survey is more in depth than it actually is, and can be left wondering why certain issues were not mentioned when they later move in to their home. In fact, all a mortgage survey does is make sure a
Investigating Subsidence for Insurance
Subsidence is where the ground caves or sinks, which is a huge problem for homes built on top of it. There are many different causes of subsidence, and many ways in which it can be prevented or halted. One thing is for certain: the cost of subsidence can often be
How Soil Samples Help Identify the Cause of Subsidence
Subsidence can be a homeowner’s worst nightmare. It can cause incredible amounts of damage and cost thousands of pounds to fix – even more if it is identified too late. If you suspect the ground underneath your home is subsiding, you need to take action quickly. Before looking into the
Bats and Building Work
It may seem like bad news if you think that you have bats in your property and certainly in terms of the legislation afforded to the protection of bats, it is a veritable minefield. Penalties relating to infringement of these legislations include anything up to six months imprisonment and/or a
Don’t Rely on Mortgage Valuation Reports
Don’t rely on the mortgage valuation report you have to pay for when you buy a home. This is simply a confirmation to your lender that it will get its money back on your property if you can’t pay. However, the valuation isn’t a survey and won’t tell you if there are
New Partner
Allcott Associates LLP are pleased to welcome new partner Matthew Baker MRICS. His appointment signals expansion of our commercial division. Matthew is a Chartered Building Surveyor with a wide variety of experience, which has been in both Private Practice and Public Authority, developing significant experience in all aspects of commercial
Lenders Should Inform Borrowers that a Valuation is Not a Survey
The Council of the Residential Property Surveyors Association (RSPA) has written to Hector Sants, chief executive of the Financial Services Authority, calling for an investigation into the advice mortgage lenders give their borrowers regarding valuations and surveys. In the letter the RSPA asks that the FSA takes urgent action to