Alison Wiles from 1st Associated Independent Chartered Surveyors says:  As independent chartered surveyors we are not on any panels.  This means we are entirely independent, free from any constraints that a bank or building society or mortgage lender will enforce.  Panels enforce a reciprocal agreement - we have heard on the grapevine these sorts of terms.

For example some of the big estate agents who own other estate agents they give 10,000 referrals between each other in a year.  They have an agreement.  In the instance of panel valuers – they tend to look at how much the mortgage is and their valuation comes back at exactly the same figure.  They are looking for ways to agree its worth that much. 

At 1st Associated we get comparables, we use computer data and we normally go round to estate agents as well and speak to local contacts. 

Panelers charge a lot of money for the valuation and not very much for the homebuyers report because their cost is hidden in the mortgage which they will get back over 25 years.  They also do it to make sure you go with them! The amount of surveys are between six to ten a day for a panel surveyor.  We do two valuations a day!

For help and advice call Free phone 0800 298 5424 or visit our website at www.1stAssociated.co.uk