1. Surveys A New Approach

2. The Agenda ‘Which’ findings on surveys The Government report on surveys How products have developed The CML lenders handbook RPSA solution

3. Which? Report The Which? Findings on surveys (May 2008) 80% of consumers say they do (or would) obtain a survey on a property they intend to buy Only 18% actually do so Consumers believe the lenders valuation is a survey There is serious detriment as a result 1 in 4 end up having to pay over £2,500 in remedial work 1 in 10 have to pay over £10,000

4. Government Report The Government report on Surveys Until recently products were not fit for purpose The CML lenders handbook requires that conveyancers should advise buyers about surveys (4.4) Buyers are not getting the message (don’t read the small print!) As a result they are buying properties on an uninformed basis The Government will not legislate on this issue The Government is looking for private sector initiatives to resolve the issue The FCA potential involvement

5. The HCS Home Condition Survey (HCS) A new approach – a new product Offered only by SAVA (part of NES) and BRE All surveys lodged with SAVA and BRE for quality assurance purposes Public Liability and Professional Indemnity insurance is held by SAVA and BRE in respect of every survey Accredited surveyors subject to quality monitoring and must maintain CPD records Accredited Surveyors are CRB checked

6. RPSA Residential Property Surveyors Association (RPSA) A representative body for SAVA and BRE accredited surveyors Dedicated to the development of quality surveying products with SAVA and BRE delivered by its members Operates a national panel for its members with complete coverage of England and Wales The panel is subject to demanding service standards

7. Buying a house Buying a House Your clients biggest lifetime investment 80% of your clients are unlikely to commission any form of independent survey or condition report ! Believe their lenders valuation is a survey The CML handbook passes the buck to you! Best advice for your client

8. Inspect and Report HCS – Inspection & Report Detailed inspection of building, inside & outside including loft space The site and permanent outbuildings Gas, electricity, water and drainage services Survey gives you a plain English jargon free report on the condition of the property

9. The Report Describes the type and construction of all key elements Describe the defects found Gives each key element a 1, 2, 3 Condition Rating Includes minimum 20 pictures as standard

10. Condition Rating standard

12. What’s covered? What’s Covered? Main elements of the building Structural Movement Damp, Rot, Woodworm Roof, Chimneys, Gutters Windows & Doors Drains Services – electrics, heating, water

13. Legal Matters *Issues for Conveyancers* Structural Alterations Extensions Previous Repairs – Warranties Building Regs Planning Permission Boundaries Shared Drains Flying Freeholds

14. Legal Matters

15. HCS Home Condition Survey The more information you have The more informed decision your client can make Less potential liability Everybody is better protected Helping your client to make the right decision about their new home!

16. RPSA Surveyors The Surveyor will Accept instructions with 24 hours of receipt and establish contact with vendor/ agent Provide daily updates if there is any delay in the process Lodge the Survey within 48 hours Contact the client within 48 hours of lodging the survey

17. RPSA Surveyors Home Condition Surveys From RPSA