Buyer guidance
A mortgage valuation is not your house survey
The lender’s valuation answers the lender’s security question. A Home Survey is commissioned to help you understand the property’s condition.
| Comparison | Mortgage valuation | Home Survey |
|---|---|---|
| Primary client | The mortgage lender | The buyer or instructing client |
| Main purpose | Support the lending decision and security value | Report on condition, risks and defects within the agreed level |
| Repair advice | Not its main purpose | Included to differing degrees at Levels 2 and 3 |
| Choice of depth | Set by the lender | Level 1, 2 or 3 chosen for the property and client |
Why the distinction matters
RICS warns that costly defects may not appear in a lender’s limited valuation. Even where the lender does not require a physical visit, that does not tell you the building is defect-free or that its future repairs are affordable.
Can a valuation be included with a survey?
RICS Level 2 can be offered with a market valuation and insurance reinstatement figure. Confirm this explicitly in the quotation. A valuation included for you is still different from relying only on the lender’s check.
Choose a suitable survey level →
Source: RICS consumer guide to Home Surveys. Reviewed 9 September 2026.