A mortgage valuation is for the lender
The lender's valuation answers a narrow question: is the property adequate security for the mortgage? It may be based on a limited inspection or automated data. You may not receive a detailed report, even if you paid a valuation fee.
It is not a survey of the condition of the home. Defects that could be expensive for you may not affect the lender's immediate decision or appear in its valuation. Treat mortgage approval and property condition as two separate questions.
RICS Home Survey Level 1
Level 1 is the most concise RICS option. It describes visible condition and flags urgent defects or issues needing further investigation, without detailed repair advice. It may suit a conventional property built from common materials that appears to be in good condition.
Choose it because the scope matches the home, not because it is the cheapest. If you already see movement, damp, roof problems or substantial alterations, discuss whether a higher level is more appropriate.
RICS Home Survey Level 2
Level 2 provides more extensive information for a conventional house, flat or bungalow in reasonable condition. It identifies defects, explains their significance and offers advice on repairs and maintenance. Versions are available with or without a market valuation.
This is often called a homebuyer survey, but the label matters less than the agreed scope. Ask what will be inspected, what cannot be accessed and whether the report includes a valuation and reinstatement figure.
RICS Home Survey Level 3
Level 3 is the most detailed option and is designed for complex, older, unusual or visibly altered properties, and homes needing significant work. It gives a fuller account of construction, defects, repair options and likely consequences of leaving problems unresolved.
No non-invasive survey can see everything. The report may recommend specialist checks for electrics, drains, damp, structure, roof or heating. Leave enough time before exchange to obtain those checks and decide what the results mean for your offer.
How to use the report
Read the entire survey and speak to the surveyor about the most serious findings. Separate routine maintenance from urgent safety or structural issues. If material new information emerges, get evidence-based repair estimates before deciding whether to proceed, renegotiate or withdraw.
- Tell the surveyor about anything that worried you at the viewing.
- Choose someone experienced with the property's age, construction and area.
- Share relevant legal issues with your conveyancer, such as extensions or boundaries.
- Do not exchange until you understand the risks you are accepting.
Sources and further reading
Survey scope varies, so agree it with the surveyor before instructing them. This article was last checked on 11 August 2026.