Q & A

Q I'm hoping to buy a brand new house. Will I have to have it surveyed and, if so, which type of survey should I choose?
M Selby, Hampshire

A If the house is covered by the National House Building Council (NHBC) guarantee, this covers the building against serious structural defects for 10 years, so you wouldn't necessarily need a survey. You should read through the small print carefully, however, to see what is covered. Most new properties have settlement cracks and other minor problems and you will need to confirm with the builder that these will be covered. If the house is not being sold with an NHBC guarantee or you have any doubts about the property you should consider instructing a chartered surveyor to carry out a homebuyer's survey that costs around £450 and covers the essential features but not electrics or plumbing. If you require a mortgage, your lender will carry out a valuation, whatever you choose to do. The Royal Institution of Chartered Surveyors (0870 333 1600) has published a booklet covering the best types of survey.

Q I'm in a chain of four house buyers and sellers and we are all using each other's deposits. Who forfeits the money if someone pulls out after exchange?
Sally Mayfield, Hertfordshire

A It is common practice nowadays for solicitors to use one deposit down the chain, and there is a risk that someone may not complete, however, it is extremely rare for completion to not take place at all. In theory, the person who fails to complete would lose their deposit and the other people in the chain would be able to sue for compensation. Your solicitor will be able to advise you on any further course of action.

If you would like a question answered here on buying or selling a property, e-mail: propertyq&a@independent.co.uk. Only those featured will be answered. Any advice given will not be legally binding.