Next, your mortgage lender will organise a valuation survey to confirm the value of the property before committing to lending you the money. If the valuation matches up, the process can proceed. If, however, the property is down valued they may reduce how much they are willing to let you borrow and, in some circumstances, they may refuse to lend against a particular home.
The valuation survey won’t tell you if there are any problems with the home you want to purchase. You will need to arrange your own independent survey for this. There are different home surveys to choose from, and they vary in price depending on how thorough they are: