The fact had been previously acknowledged by Communities Scotland, but was not mentioned in the current consultation paper on reforms to the buying and selling process in Scotland.
In certain cases, the single survey would still need a lender to carry out their own valuation to assess level of risk, such as when the surveyor compiling the survey does not meet the criteria set by the lender.
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CML Scotland has now urged Communities Scotland to ensure transparency in the business relationships between estate agents and surveyors to prevent damage to lenders and homebuyers confidence in the system.
CML Scotland policy consultant, Kennedy Foster, said: “We are disappointed that our concerns have not been addressed in the Communities Scotland consultation paper. The introduction of the single survey is a massive change to the process in Scotland and we believe more work is needed to ensure it is a success.
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“Communities Scotland needs to dispel the myth that the single survey will replace the need for individual lender valuations. This will not be the case and in its current form the consultation paper sends a confusing message to consumers.”
David Carmichael, associate director of Savills Private Finance and head of its Glasgow office, commented: “The single survey remains a contentious issue North of the border.
“Our future PM seems to share the concerns of many, as Gordon Brown seems likely to leave the system as it is, if his comments are anything to go by. It could be argued that a Scottish PM should be well equipped to understand the Scottish psyche and what’s best for the market North of the border.”
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