In recent years, there has been a significant increase in the number of people in England who own their homes outright, without a mortgage.

Figures from the Office for National Statistics show that 32.6 percent of dwellings were owned outright in England in 2021. This trend can be attributed to various factors, including inheritance, downsizing, or the ability to purchase a property outright due to favourable financial circumstances.

However, whether you are a homeowner with a mortgage or without one, it is crucial to understand the importance of getting a professional survey and valuation done by a Chartered Surveyor. In this blog, we will explore why it is always best to engage the services of a Chartered Surveyor when you are on the move, regardless of whether a mortgage is involved or not.

When it comes to buying or selling a property, many people assume that a survey and valuation are only required when a mortgage is involved. However, this is a common misconception. Irrespective of how a property is being financed, engaging the services of a Chartered Surveyor is always a sensible step for several reasons. These include:

Identifying Potential Issues

A Chartered Surveyor is trained to identify potential issues that may not be apparent to an untrained eye. By conducting a thorough survey, they can identify any hidden defects or structural problems that could impact the value or safety of the property. Even if you plan to purchase a property without borrowing, it is crucial to be aware of any potential issues before making what is likely to be a significant investment.

Accurate Valuation

A professional valuation by a Chartered Surveyor provides an accurate assessment of the property’s market value. This information is invaluable, as it ensures that you are aware of the true worth of your property or the property you are considering purchasing. Having an accurate valuation can help you make informed decisions and negotiate effectively during the buying or selling process.

Peace of Mind

Engaging a Chartered Surveyor’s services can provide peace of mind, knowing that your property has been thoroughly assessed by an expert. This is particularly important when you are considering a move, as it allows you to make informed decisions based on the condition and value of the property.

Whether you are a homeowner without a mortgage or planning a move, it is always best to get a survey and valuation done by a Chartered Surveyor.

At Lea Hough Chartered Surveyors, we pride ourselves on providing expert advice and services to homeowners, regardless of their mortgage status. Contact us today to discuss your survey and valuation needs and experience the peace of mind that comes with professional expertise.

Preston Office
Telephone: 01772 458866
Blackburn Office
Telephone: 01254 260196
Clitheroe Office
Telephone: 01200 320040
Lancaster Office
Telephone: 01524 899850
Manchester Office
Telephone: 0161 265 0070
Lea Hough is a trading name of Lea Hough & Co LLP, which is a Limited Liability Partnership registered in England and Wales under partnership number OC306054.
Registered Office: Oakshaw House, 2 Capricorn Park, Blakewater Road, Blackburn, Lancashire, BB1 5QR