In England, Wales and Northern Ireland a valuation is usually commissioned by your mortgage provider, and, in many cases, you will receive a copy of the valuation. A valuation is designed to confirm to your lender whether the property represents suitable security for the mortgage you want. It might recommend a retention of part of the loan until essential works are carried out, but is based on a very limited inspection. It should not be regarded as a survey of your future home.

The price of the mortgage valuation is determined by your lender, usually linked to the purchase price of the property. Typical mortgage valuation costs start at £110 for a property priced up to £100,000 (See surveyors fees scale) In many instances the lender may charge an application fee which includes the valuation fee.

This type of valuation can also be done for private clients for specific purposes, for example tax, probate or matrimonial.

The valuation includes a market value figure and a re-instatement figure generally required for insuring the buildings.

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