What are Survey Fees?
Survey fees, or valuation fees, are necessary when applying for a bridging loan.
Lenders need to be sure that the property's market value is accurate, so they will ask a surveyor to inspect the property you'll be using to secure your loan. The fee will then be charged to you when the surveyors carry out the survey.
The lender will select the surveyor from their own panel. On some transactions worth £1,000,000 or less, many lenders are now using a desktop valuation service which is often cheaper and faster than traditional valuations.
There are other fees that you should be aware of before applying for a bridging loan, including:Back