The RICS is today launching a consultation on a new home survey standard that will become mandatory for surveyors.

One objective is to clear  up consumer confusion over the various surveys available to consumers, and how they differ from valuations done for mortgage lenders.

Both consumers and property professionals are being consulted in the exercise.

Although 75% of people who bought a home in the last ten years had a survey, 21% remain unsure as to which one it was.

One of the proposed changes out for consultation will be to refer to surveys by level, and not a name – becoming level one, two and three.

Surveyors would have to explain the nature of, and differences between, the levels of service offered so that consumers can make an informed choice.

Paul Bagust, RICS global property director, said: “As part of our commitment to promote and enforce the highest standards in the residential sector, we are now leading an extensive public consultation to deliver a standard which ensures transparency, consistent competence and high level of service as expected from RICS professionals.

“Attaining the highest professional and ethical standards is vital to provide consumers assurance that work undertaken by home surveyors meets these standards.”

The consultation closes on July 28.

https://consultations.rics.org/consult.ti/HSS_consultation/consultationHome