What is a Mortgage Valuation?
Often confused with a "survey", a mortgage valuation has one purpose only - to satisfy a "Lender" that the house you want to buy with a loan is a sufficiently valuable asset that can be sold to repay the loan should you, the borrower, be unable to keep up repayments in the future.
The Valuer’s job is to take account of the condition of the building. There is no obligation to carry out more than a superficial inspection.
Although you, as purchaser, are owed a "duty of care" and will pay all costs of the "valuation", the report is designed specifically for the needs of the Lender. It is presented as a brief proforma that provides you with little useful information as a prospective owner in respect of condition and structure.