Equity Release

Equity release surveys for mortgage purposes

We offer full specialist surveys and reports for equity release. If you’re looking to release some money for your home then we are the equity release company to help. We are not contractors looking for work and we are fully independent. We have a sympathetic approach when it comes to equity release surveys.

So you’ve applied for equity release and the provider has stated that you need to have a damp and timber report on the property. Many commission-based companies offering these surveys will recommend unnecessary treatment and potentially prevent you from releasing money on the property. This is where we come in, we are not commission-based and we don’t recommend unnecessary treatment like most contractors or builders. If there’s nothing wrong with the property, then this is what will be stated in the specialist report provided.

If work is required, then 9 times out of 10 the client or even a general builder can carry out the work we recommend. We don’t recommend these chemical damp proof courses that don’t even work. We get to the root cause of the damp problem and recommend the correct treatment to prevent the damp from returning.

• Equity release surveys
• Specialist reports for equity release
• Correct diagnosis on any damp or timber decay / infestation
• Sympathetic approach to help release funds
• We are here to help the client and not the banks
• Fully qualified and insured

What is equity release?

If you own your home, equity release can be a way of accessing the cash from your home. Usually equity release comes in the form of a lifetime mortgage or home reversion plan. In some cases, in order for the money to be released, you would need a damp and timber survey carried out on your property.

It is a way of releasing money in your home whilst you’re still living there. A way to unlock the value of your property and turn it into cash that you will receive in one lump sum or several smaller amounts.

Mortgage lenders have tightened up on their lending criteria and it is becoming increasingly common for lenders to request damp and timber surveys before they will offer to release the money to you. Dampness and timber decay problems are flagged up on the homebuyers report, requiring a damp and timber survey to be carried out by a specialist before the mortgage offer is accepted.

This request is very commonplace by banks and building societies, there is no need to be alarmed if a damp and timber survey comes up as a requirement before a mortgage offer is granted. It is not uusual for the building surveyors employed by the mortgage lenders to be extra cautious in their reports and request a specialist damp and timber survey.

Our surveys provide you with a correct diagnosis and treatment recommendations, which could end up saving you a lot of money and not scare the lenders into offering you a lower sum of money.

Our specialist surveyors will meticulously inspect a property to provide the correct diagnosis on any potential damp and timber issues, produce a detailed, unbiased written report which will satisfy the mortgage lenders.

Mortgage equity release companies and building societies offering equity release are satisfied with the specialist detailed damp and timber reports that our company provides.

How much will a specialist damp and timber survey cost for equity release?

The cost of a damp and timber survey for equity release will depend on the size of your property and how many bedrooms your property has. It will also depend on what you will need inspecting and if you require a full mortgage report.

Please contact us for more information, we will be happy to discuss the process of obtaining a damp and timber report for equity release.

Found a cheaper price elsewhere? Beware!

There are many damp contractors out there that offer free surveys or low-cost surveys (~£50-£90). Initially, these quotes seem amazing as you’ve previously been quoted nearly triple that price for the same service!

…but is it the same service?

Absolutely not!

Contractors are out to look for work. A free/very cheap survey usually means they will be looking to make their money elsewhere – usually in the form of quoting for work that does not need doing.

So why us?

We are specialists whose main goal is to correctly diagnose any damp and timber issues in a property. Our surveyors have years of experience and are highly qualified. You pay for the confidence in the correct diagnosis. We have been used countless times for equity release on properties, so you can trust us with a high-quality service.

Equity release damp and timber survey report.

On a typical damp and timber survey for equity release, we will inspect the entire property for any dampness. We will start on the ground floor, looking for signs of rising damp, penetrating damp, high external ground levels, defective guttering or any bridging of the physical damp-proof course. Once we have located the damp-proof course, we will be able to correctly diagnose any damp issues inside the house. We will also inspect the ventilation of the property to prevent condensation from occurring.  If instructed, our surveyors will also carry out a visual inspection to the upstairs of the property and test any chimney breasts for salt damp.

Our surveyors will then carry out an inspection on all of the structural timbers in the property you wish to release equity from. We will inspect all accessible timbers from the ground floor or basement right up into the roof void. We look for signs that the sub-floor ventilation is appropriate.

For more information or to book a specialist survey, contact us.

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