Insurance, Mortgages and CCTV Drain Surveys

July 4, 2017

If you are looking to buy a property, whether that be residential or commercial, there are several parts of the building that are recommended to be surveyed before the sale is complete. Electrics, walls, heating and roofing checks are standard these days, however one inspection that is too often overlooked is a drain survey.

First-time buyers do not always consider a drain survey before they buy. A drain survey is not a requirement and is not generally included in homebuyer surveys but, by including a drain survey, problems that cannot be seen from regular inspections can be found.

In addition to residential properties, commercial properties should have a CCTV drain survey before the purchase as unexpected issues can cause disruption to your business by restricting access; it can be very expensive too!

If you are buying a buy-to-let property, a drain survey can provide a record of the state of the drainage system which could prove vital if a problem occurs after tenants have occupied the property.

 

Managing Drainage Problems

Problems with drainage systems can range from simple issues, such as build-up of debris, or more difficult tasks, such as damaged underground drains. The trouble with the larger problems is the excessive cost to get any problems looked at and fixed.

A pre-purchase drain survey can identify areas that need attention which could mean that the cost of repairs can be deducted from the property's value. This could save potential buyers thousands of pounds and future hassle.

 

Drainage Insurance Claims

Insurance companies can ask for a CCTV drain survey as evidence before proceeding with a claim. Having a record of the state of your drains can prove invaluable if things go wrong and you need to make a claim. The cost of a homebuyers drain survey will be much less than it could cost if a tragedy happened and your insurance company was not to pay out.

 

Mortgages and Home Buyers Drain Survey

Many UK Mortgage companies now require a full drain survey to be carried out before the purchase of a property. Home buyers can also use them for peace of mind so they know the property they are buying has drainage system in good condition. A pre-purchase drain survey can not only save money on the price of the property, but with the mortgage repayments too. Conducting a drain survey before purchase could mean a more competitive mortgage deal, due to less risk, which could make repayments less.

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