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Higher lending to Q1 2014 will pile pressure on surveyors

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  • 09/09/2013
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Higher lending to Q1 2014 will pile pressure on surveyors
Valuers will remain in demand throughout 2013 due to lenders’ plans to increase business volumes, a surveyor has warned.

E.surv chartered surveyors business development manager Richard Sexton said: “Most of the lenders we have been talking to plan to grow volumes between now and quarter one of next year. That will increase pressure on the industry.”

He described the summer months as the “pinch point” for surveyor waiting times as low supply and high demand issue had not been resolved.

 Lenders could help by arranging drive-by valuations for low-risk cases and notifying the valuer earlier on in the mortgage process, he added.

E.surv has an average waiting time of four days across the country, but eight days in London. The demand for surveyors has forced it to prioritise lenders with which it has a contract.

The firm has also recruited 53 building surveying graduates onto a year-long development programme, followed by a placement as a valuer. As part of their package, e.surv is presenting each graduate with a Mini Cooper.

The move comes after Countrywide launched a fast-track trainee surveyor programme

Reports that house buyers were waiting up to three weeks for a valuation emerged as the housing market began to heat up in London and the South East earlier this summer. 

In July, the Royal Institute of Chartered Surveyors began an investigation into the surveying profession. It is due to report back in October.

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