Buying a property built before 2000?

Asbestos Surveypr carrying out a survey for a Mortgage

Mortgage Lenders are increasingly requesting an Asbestos Survey is carried out on properties built prior to 1999, especially if there is a suspected asbestos containing material present. Usually, a Chartered Surveyor appointed by the lender will identify areas where they believe asbestos containing materials may be. Lenders may also request an asbestos survey is carried out on a property which is being remortgaged. If the property in question is a commercial property, you usually have an obligation to obtain an asbestos report for selling a property.

There can sometimes be a high cost to remove asbestos containing materials and mortgage lenders are keen to protect their interest in the event of a property being repossessed or damaged.

The Royal Institution of Chartered Surveyors (RICS) Red Book states that valuers are entitled to assume that “no deleterious or hazardous materials have been used in the construction”. As a result, some Lenders may insist on an asbestos survey being conducted if a mortgage surveyor notices any suspect materials.

How much does an Asbestos Survey for a Mortgage cost?

In the case of a Commercial property, an asbestos Management Survey is sufficient. In the case of a demostic property, we provide a Homebuyers Asbestos Report which starts at £180. This type of survey should suffice in most cases but you may want to consider an more in-depth R&D survey if you are planning on making considerable changes to the fabric of the building such as knocking through walls or building a large extension.

Are there any other options?

If you know exactly where the suspected material is, we can take a sample and have it tested. The cost starts from £50+VAT. However, if you do not know where the suspected materials is we recommend you have an Asbestos Management Survey carried out. This is often cheaper than having individual samples taken if the property contains many areas of suspect materials.

Who pays for a Mortgage Asbestos Survey?

This will depend on the Lender. In some cases the Lender will pay, however, in the majority of cases it is up to the person who is taking out the mortgage (or remortgaging) to pay for an asbestos survey for a mortgage. Please contact your Lender for more information.

Where might I find asbestos in a property I am buying?

An asbestos survey can identify asbestos materials in a house which could be expensive to remove.

This will depend on the age of the building and how it was constructed. The most common types of asbestos containing materials found in buildings are textured coatings (including asbestos containing Artex), ceiling tiles, asbestos insulation or asbestos insulting board (AIB), asbestos floor tiles, asbestos cement ceilings and heating pipes such as flues.

However, there are a number of other items which may contain asbestos including bath panels and toilet cisterns.

What other services are you able to provide for someone looking to purchase a property?

In addition to asbestos surveys and sampling, we are able to provide written assessments for the removal of asbestos in a property you are looking to purchase. Prices start at £50+vat, including call-out.