Research carried out by insurance company Churchill has revealed that 13 million homeowners have needed unexpected building work completed on their property since moving in. Over half of those who had major building work said knowing that in advance would have influenced their decision to buy the property.
Moreover, seven million did not have a survey completed on their current property. This includes 3.5 million people who did not have any type of independent checks completed and 3.6 million who assumed a mortgage valuation was sufficient. According to surveyors the most common three problems that can be detected by a building survey are damp, roof issues and subsidence.
The number of people who have at least a base level survey has increased over time: from 63% cent 20 years ago to 91% in the past 12 months. However, having a comprehensive building survey done has reduced significantly, from 28% 20 years ago to just 6% in the past 12 months.