Changes to Home View Survey report

As from 1 May 2007, Abbey's Home View will be replaced by the industry standard RICS Home Buyer Survey and Valuation. This offers a number of benefits to Abbey and its customers. The Valuation for Mortgage Purposes report is not embedded in the Home Buyer report, as it is in the Home View. Consequently, surveyors will complete the valuation report and return it to Abbey more quickly as they do not need to compose the whole Homebuyer Survey first. In addition, a feature of the Home Buyer is that surveyors are required to contact their client, our customer, prior to inspecting the property to confirm the extent of their inspection. This provides customers with an opportunity to ask any questions or request that the surveyor give specific advice that they might have concerns about, agreeing terms of engagement with the surveyor directly.

Panel surveyors are far more experienced in completing Home Buyer reports; as such, Abbey's Home View has not always been completed to our satisfaction. Survey Operations considers that the change to Home Buyer Survey will be an enhancement to our service and better for customers.

Due to a freeze on amending PRISM at present ALL application forms will not reflect the change of wording from Home View to Home Buyer Survey. However, the Lending Guide and A Straightforward Guide to your mortgage will.

There are no changes to the fee scale and the Home Buyer fee includes the cost of the Valuation for Mortgage purposes report as well, as did the Home View fee previously.