We provide the full range of Home Survey Reports, from the more basic Level l Survey up to the most detailed Level 3 Survey, each at their various price points. You may not require a mortgage but still want the peace of mind you get by having an experienced property professional look over the property thoroughly and carry out due diligence in respect of market value. The Level 2 Home Survey & Valuation combines a survey with a valuation at a price which is within most people’s budget. A more detailed Level 3 Home Survey can be provided if required.

There is much confusion and mystery over the various options and types of survey available to the prospective house purchaser and what each one means. More lately, (as at the 1st March 2021) the RICS changed the terminology in an attempt to provide greater clarity. I will try to demystify matters once and for all.

PRESCOTT Valuations

Firstly, and most importantly a Valuation is not a Survey. A valuation would generally require a registered valuation surveyor to carry out an inspection to obtain the necessary information to determine value. Some of the factors include the property’s setting in relation to its location, condition, floor area (ie its size) number of rooms and so on. It is through the surveyor’s knowledge and experience of the property, location and market that they are able to determine value based on comparable evidence.

The valuer is not carrying out a detailed inspection of the condition of the property and is not reporting upon it. If there are material factors effecting value such as a significant structural defects or the presence of an abattoir next door, you would expect the valuer to mention this and factor it into the valuation.

Mortgage Valuations, Remortgage, Further Advance. 
For the purposes of clarity, all the above are the names attached to report types which include a valuation figure and are used by lenders for mortgage lending purposes. Each Mortgage Lender has their own report format and specific requirements as to what is to be reported on and the emphasis to be placed on various aspects of the property.  This will depend upon the Lender’s individual lending policy, tolerance to risk and proposed use, (such as Buy to Let mortgages).

Despite the common misperception, Mortgage Valuation Reports are not designed for the prospective purchaser to make an informed decision as to whether or not they should proceed with their property purchase (i.e. they are not Surveys).  They are intended for the client (i.e. the Mortgage Lender) in order to understand the risk and be able reach a decision as to whether or not to lend.

It is therefore recommended that as a Purchaser, you should always commission your own Home Survey. The report is prepared with the individual Purchaser’s requirements in mind. The report will highlight whether there are any major misgivings, which will be reflected in any Valuation; assuming that one is to be provided.

Valuations are carried out by RICS registered valuers. All valuation reports, whether for a mortgage lender or privately commissioned, comply with the Red Book Practice Statements and Guidance Notes (hence, Red Book Valuation).  The process of gathering and recording data is essentially the same for all valuations, and certain minimum levels of content must be reported.  Therefore, the only real difference in the various valuations is what information is reported and the format, which depends on the client and specific use of the report.

Market Value is defined as:

‘The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.’

PRESCOTT Reinstatement Valuation

A brief Report and Reinstatement value, used for building insurance purposes.

PRESCOTT Home Survey

Level 1 – PRESCOTT Home Survey: This is in a standard format and is designed specifically as an economy service. A Home Survey is specifically designed for residential dwellings. It will help you identify any major faults in the property that you are considering selling or buying.

Level 2 – PRESCOTT Home Survey & Valuation: A Home Survey is in a standard format and is designed specifically as a more comprehensive report. A Home Survey and Valuation is as it is described, a combination of a both Survey & Valuation, but also includes a reinstatement valuation, making it the best value for money. It is specifically designed for residential dwellings. It will help identify any major defects, maintenance, and legal issues in the property that you are considering buying. It provides you with additional advice as to what action or further enquiries should make before proceeding further.

Level 3 – PRESCOTT Home Survey: (formally a Building Survey and sometimes referred to as a full structural survey) A Building Survey is suitable for all residential properties and provides a full picture of their construction and condition. It is likely to be needed if the property is, for example, of unusual construction, is dilapidated or has been extensively altered-or, where a major conversion or renovation is planned. It is usually tailored to the client’s individual requirements. The report includes technical information on construction and materials. It does not include a valuation or reinstatement as standard but can be included on special request.


Irrespective of what type of pre-purchase report you commission, you should always speak to your Surveyor before he proceeds, to ensure that your Surveyor not only has an understanding of what your requirements are, but that your expectations are realistic and that he is able to meet them.

Red Book Valuation
Prescott Home Survey Level 1 , 2 & 3
Snagging Report
Building reinstatement (for insurance purposes)

Get in touch to book a survey or request a quote!