Commercial mortgage holders 'should have buildings surveyed'

09 February 2011

Written by David Whittaker

Commercial mortgage holders should not buy a property without having it professionally surveyed.

This is a warning from the Royal Institution of Chartered Surveyors (Rics) in an article for the Liverpool Daily Post, which urged firms to have buildings checked for damage or potential issues in the future.

"With the recent extremes in the weather and bank balances generally depleted, it is essential that businesses make sure they are adequately protected," the organisation wrote.

This includes checking their insurance covers any potential risks to the property that are uncovered by a building survey, while people with concerns over underground draining, heating and electrical appliances make this clear to the surveyor, as they will not produce a detailed report about these issues if not instructed to.

Rics, which is an independent organisation founded in London in 1868, has a membership of around 100,000 qualified professionals and 50,000 students across the globe.

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