Many "older" people are choosing to release equity from their properties these days for all sorts of reasons, such as helping the "kids" who may be in there forties or fifties! or maybe for the holiday/cruise of a lifetime and sometimes for more serious issues such as medical care where the NHS just doesn't offer or can't afford the treatments certain people need.
As an independent specialist surveyor I have often been asked to carry out a survey required by the lender for issues such as dampness, timber decay, suspected dry rot and other issues that the valuing surveyor is not experienced in. This understandably often causes a great deal of worry to the householder. In such situations people often instruct me to provide a completely independent report rather than going to a contractor who would naturally have a financial interest in pitching for remedial works, some of which may or may not be necessary...
In a recent case, my client had received a quote from a National company for over £7,000 worth of work. When they showed the "report" to their mortgage broker he said "If we we put that to the lender they'll probably turn you down", perhaps you could get an independent report?...
Thankfully the client found me and after my thorough inspection of the property I recommended
£500 - £650 worth of remedial works, none of which was urgent.
The result was that the loan was agreed without any retention or provision and the equity was released without delay. Think outside the box and get a truly independent unbiased report.
It will save much time and money.... Martin D Ball CSTDB (Certified Surveyor for Timber and Dampness in Buildings) Property Care Association Member.