Property Surveys Explained: A RICS Surveyor’s Guide for London & UK Buyers

Buying a property in London or anywhere in the UK is one of the most significant financial commitments you will ever make. A professional RICS property survey helps home buyers understand the true condition of a property before exchange of contracts.

This article explains the different types of property surveys available to buyers in London and across the UK, including the pros and cons of each, so you can make an informed decision.

Why a Property Survey Is Advised When Buying a Home

Many buyers mistakenly rely on a mortgage valuation, assuming it offers protection. It does not. A mortgage valuation is carried out for the lender only and is designed solely to confirm that the property is worth the amount being lent.

A RICS property survey, on the other hand, is commissioned for the buyer. It provides independent professional advice on the condition of the property, highlights defects and risks, and identifies future maintenance considerations. This allows buyers to proceed with confidence, renegotiate the purchase price, or reconsider their decision before committing legally.

Types of Property Surveys Available to Home Buyers

1. Mortgage Valuation (Not a Survey)

What it is

A brief inspection or desktop assessment carried out on behalf of the mortgage lender to confirm the property’s value.

Suitable for

Lenders only. It does not protect the buyer.

Pros

▪️Often the cheapest option and sometimes included with the mortgage product
▪️Confirms the property value meets the lender’s criteria

Cons

▪️Not a condition report
▪️Very limited inspection
▪️Does not identify defects, damp, or structural issues
▪️No advice on repairs or future costs

Never rely on a mortgage valuation alone when buying a property. I have seen non-standard builds missed, so if you are buying an ex-council house or any older stock, be aware. 

2. RICS Level 1 Survey – Condition Report

What it is

A basic overview of the property’s general condition using a traffic-light rating system (green, amber, red). It highlights obvious issues but does not include advice on repairs or costs.

Suitable for

▪️New-build properties
▪️Modern homes in good condition
▪️Buyers wanting a simple condition snapshot

Pros

▪️Lowest-cost RICS survey
▪️Clear and easy-to-read format
▪️Identifies visible defects

Cons

▪️No repair advice or cost guidance
▪️No valuation
▪️Limited depth and detail
▪️Not suitable for older or altered properties

3. RICS Level 2 Survey – HomeBuyer Report

What it is

The most commonly chosen survey for UK home buyers. It provides a detailed inspection of visible and accessible areas of the property and highlights defects, risks, and maintenance issues.

Suitable for

Conventional houses and flats
Properties built after 1900
Homes in reasonable condition
First-time buyers

Pros

▪️Good balance of cost and detail
▪️Clear traffic-light system
▪️Identifies damp, movement, roof issues, insulation problems, and more
▪️Can include a market valuation and rebuild cost
▪️Regulated and standardised by RICS

Cons

▪️Does not involve opening up the building
▪️No detailed repair specifications
▪️Not suitable for complex, heavily altered, or very old buildings

4. RICS Level 3 Survey – Building Survey (Full Survey)

What it is

The most comprehensive property survey available. It provides an in-depth analysis of the structure, construction, condition, and defects of the property, along with advice on repair options.

Suitable for

▪️Period properties (pre-1900)
▪️Listed buildings
▪️Properties with extensions or structural alterations
▪️Properties in poor condition
▪️Buyers planning renovations
▪️Cash buyers seeking maximum protection

Pros

▪️Most detailed and thorough inspection
▪️Explains causes, severity, and implications of defects
▪️Identifies long-term risks
▪️Tailored advice specific to the property
▪️Strong negotiating tool

Cons

▪️Higher cost than Level 1 and Level 2 surveys
▪️Longer and more technical report
▪️Valuation not included unless requested separately

Specialist Property Surveys

In some cases, a RICS survey may recommend additional specialist reports to investigate specific issues further.

Common specialist surveys include:

▪️Damp and timber surveys
▪️Structural engineer reports
▪️Roof surveys
▪️Drainage CCTV surveys
▪️Electrical and gas safety inspections
▪️Asbestos surveys

These provide targeted expertise but are usually carried out in addition to a general survey.

Which Property Survey Should You Choose?

As a general guide:

▪️New-build or nearly new property: Level 1 Survey
▪️Modern property in good condition: Level 2 HomeBuyer Report
▪️Older, altered, or poorly maintained property: Level 3 Building Survey
▪️Period or listed property: Level 3 Building Survey

When in doubt, it is always safer to choose a higher-level survey.

Property Surveys for London Homes

London properties often present unique challenges, including period construction, loft conversions, basements, extensions, and high-density developments. Buyers purchasing Victorian, Edwardian, ex-local authority, or converted flats in London should strongly consider a RICS Level 3 Building Survey to fully understand the risks involved.

Final Advice

A property survey is not a cost; it is protection. The fee paid for a professional survey is small compared to the potential cost of unexpected repairs, structural issues, or legal complications discovered after completion. Choosing the right survey gives buyers clarity, leverage, and peace of mind.

If you are unsure which survey is right for your property, always seek advice from a qualified RICS professional before proceeding.