Mortgage Glossary

A lender will almost always insist on a basic survey of the property to ensure that their security (i.e. the value of the property) is adequate to cover the loan should the borrower default. This type of survey is very basic and most buyers will opt to pay for a slightly more detailed version which looks at the structure of the property in more depth. This is known as the home buyers survey. There is also a full structural survey which is more detailed still and advisable for particularly old properties.