It often catches people off guard when their bank requests a structural survey to be complete before their mortgage can be drawn down. But why do the bank request this?
Why would the bank request a structural survey?
The property is over a certain age (usually 100 years old)
The valuer recommends one
The property is in an area with known problems (e.g. Pyrite)
At the underwriter's discretion (usually if the only listing shows the property to be in a poor state)
What do they want to see in the survey?
Essentially the bank want to know:
The property is structurally sound
There are no urgent issues
What will the bank do if the surveyor identifies urgent or serious issues?
The bank will request you get quotes/estimates for the work needed to address the issues. You will then need to show you have the funds to pay for them.
Should I send my survey to the bank even if they don't ask for one?
Absolutely not! Only send the survey to your bank IF they request for one to be complete.
What type of survey do the bank need?
Banks all need the same type of survey, a "Structural Survey" sometimes called a Type 2 report, Building Survey, Engineer's Report, Architect's Report etc.
What requirements will the bank have for the surveyor?
An Engineer registered with IEI (Engineering Ireland)
An Architect or Architectural Technologists registered with RIAI
A Building Surveyor registered with SCSI
Covered by PI Insurance with a minimum cover of €1m
Will a survey from Get House Survey meet the bank's requirements?
Yes, our surveys are accepted by all banks and lenders in Ireland. Occasionally the bank will ask for an additional letter, that is also available if requested.
To book your survey, just go to GetHouseSurvey.ie and click on "Get Survey Now".