In answer to a question on why the Home buyer’s report isn’t the most popular option, Dalby suggested that after paying the lender’s valuation costs, buyers lose the motivation to get a survey, at the Mortgage Solutions Surveyor’s Breakfast Briefing. He added this was his opinion, not the official RICS line.
Paul Wareham, Colley’s regional manager for the South and South East, said he thought the surveying industry had bigger worries on the horizon.
“With just 3,000 trained surveyors left in the industry we are not going to have the capacity in the longer term to service the market,” he said.
“Lenders will look for a different solution,” he added, suggesting an Automated Valuation Model or hybrid solution was likely.
James Max, property expert and radio presenter said there was a very strong argument for separating the lender valuation and the condition report.
“Lenders have to understand their responsibilities,” he said.
To watch the Q&A session highlights, click here
Browse the photos of the morning here.
