RICS has published a public consultation for a new mandatory RICS Home Survey Standard and is looking for feedback from both consumers and industry.
Proposed changes will better protect buyers, and sellers, by making sure they fully understand the importance and benefits of commissioning a home survey before purchasing a property, as the process and language is clarified, RICS said. It will also standardise survey offerings.
The survey will be open until midnight on the 29 July: https://consultations.rics.org/consult.ti/HSS_consultation/consultationHome.
Joe Arnold (pictured), managing drector of Arnold & Baldwin Chartered Surveyors, has urged the mortgage industry to share their views.
He said: “A home survey is a crucial part of any property purchase as it protects the buyer’s investment. So, as the working group, we asked whether the existing process is still fit for purpose. Two main themes emerged.
“The first was that many issues arise not from the competency of the surveyor but in the way that information is communicated and the management of expectations.
“The second was that the way people consume data has changed dramatically in recent years, but home surveys have not caught up. Current standards do not enable flexibility and people simply don’t have the time to read a long report any more.
“So, the new standards that have been proposed will enable greater use of other media like photo and video, more accessible terminology, and more open communication. These new standards could potentially benefit every property transaction, so everyone involved in the process should have an interest. If you have an interest in the future of your business, I suggest visiting the website and making your opinions heard.”