INDEPENDENT SURVEYORS AND VALUERS ASSOCIATION
Freephone access to the
NATIONAL NETWORK OF INDEPENDENT SURVEYORS
0800 970 8521
mail@surveyorsweb.co.uk
Freephone access to the
NATIONAL NETWORK OF INDEPENDENT SURVEYORS
0800 970 8521
mail@surveyorsweb.co.uk
ISVA Policy
1. Primarily to enable the widest consumer access to survey and valuation services through promotion of skills of
independent surveyors and valuers; to encourage strict maintenance of professional standards and ethics; and to
promote the ethos of ‘putting the client first’.
2. To encourage high standards of practice and ethics by members of the Association by establishing the Association’s own Code of Practice which shall be at least equal to, and where possible higher than, those generally accepted by the professional bodies, in order to demonstrate the breadth of experience of members to the public and to the business community.
3. To aim to have outlawed all potential areas of conflicts of interest for protection of the consumer particularly in a situation where a firm of surveyors and valuers is owned or controlled by a parent lender (or similar financial or insurance institutions) which undertakes mortgage valuations on behalf of that institution and in instances where property is offered for sale or marketed through an agency controlled or owned by the same institution, or where a valuer’s or surveyor’s immediate superior company owns or has a financial interest in the property.
4. To promote the widest use of more comprehensive survey and valuation reports as an alternative to, or in conjunction with, an existing simple mortgage valuation report to avoid misrepresentation of condition, which previously has led to widespread consumer dissatisfaction and litigation.
5. To ensure that prospective purchasers of property are made adequately aware of, and are encouraged to use, the full range of valuation and survey reports available to them and have the opportunity to speak directly to a competent property professional in order to decide the appropriate level of survey.
6. To ensure that prospective purchasers are unfettered in choice and are able to employ any surveyor or valuer to carry out the mortgage valuation provided that the surveyor or valuer has adequate expertise, geographical knowledge and professional indemnity insurance. Further to endeavour that whenever a competent, qualified surveyor or valuer has undertaken a survey and valuation for such prospective purchaser, that the report can be accepted by the lending institution without an unnecessary requirement for further expenditure by the purchaser, providing it complies with requirements of the ‘Red Book’.
7. To represent member firms and individuals in all matters where restrictive practices exist, particularly in the field of residential mortgage valuation and also in other areas of practice (including the commercial property market place) and to promote fair competition in all aspects of professional practice.
8. To represent the views of all members and member firms to the RICS as well as to Government bodies, consumer representatives, the EU, the Press and any other public body or area where surveyors’ interests are debated.
9. To ensure that independent firms of surveyors have adequate representation on RICS Councils, Skills and Support Panels, Working Parties etc. Further to ensure the skills and depth of experience enjoyed by independent firms are fully available to the Institution and members of the public.
10. To seek to expose all areas of the RICS where unnecessary expenditure and waste occurs and where self-interest groups are able to wield undue influence.
11. To provide members with positive benefits of membership, and to promote continuing professional development and advanced training at economic cost.
12. To assist members in obtaining comprehensive professional indemnity insurance cover at the lowest possible rates particularly with regard to fraud cover and run-off insurance.
13. To promote awareness of any instance where lenders refuse to appoint firms of valuers/surveyors to approved Panels of Valuers unless those firms are able to offer reciprocal mortgage business. The Association wishes it to be acknowledged that this practice leads to restriction of consumer choice and to potential conflicts of interest, both of which are not in the best interests of the consumer.
14. Where possible to influence conduct of the RICS by use of members’ votes and proxies to ensure promotion of all the foregoing aims and objectives.
2. To encourage high standards of practice and ethics by members of the Association by establishing the Association’s own Code of Practice which shall be at least equal to, and where possible higher than, those generally accepted by the professional bodies, in order to demonstrate the breadth of experience of members to the public and to the business community.
3. To aim to have outlawed all potential areas of conflicts of interest for protection of the consumer particularly in a situation where a firm of surveyors and valuers is owned or controlled by a parent lender (or similar financial or insurance institutions) which undertakes mortgage valuations on behalf of that institution and in instances where property is offered for sale or marketed through an agency controlled or owned by the same institution, or where a valuer’s or surveyor’s immediate superior company owns or has a financial interest in the property.
4. To promote the widest use of more comprehensive survey and valuation reports as an alternative to, or in conjunction with, an existing simple mortgage valuation report to avoid misrepresentation of condition, which previously has led to widespread consumer dissatisfaction and litigation.
5. To ensure that prospective purchasers of property are made adequately aware of, and are encouraged to use, the full range of valuation and survey reports available to them and have the opportunity to speak directly to a competent property professional in order to decide the appropriate level of survey.
6. To ensure that prospective purchasers are unfettered in choice and are able to employ any surveyor or valuer to carry out the mortgage valuation provided that the surveyor or valuer has adequate expertise, geographical knowledge and professional indemnity insurance. Further to endeavour that whenever a competent, qualified surveyor or valuer has undertaken a survey and valuation for such prospective purchaser, that the report can be accepted by the lending institution without an unnecessary requirement for further expenditure by the purchaser, providing it complies with requirements of the ‘Red Book’.
7. To represent member firms and individuals in all matters where restrictive practices exist, particularly in the field of residential mortgage valuation and also in other areas of practice (including the commercial property market place) and to promote fair competition in all aspects of professional practice.
8. To represent the views of all members and member firms to the RICS as well as to Government bodies, consumer representatives, the EU, the Press and any other public body or area where surveyors’ interests are debated.
9. To ensure that independent firms of surveyors have adequate representation on RICS Councils, Skills and Support Panels, Working Parties etc. Further to ensure the skills and depth of experience enjoyed by independent firms are fully available to the Institution and members of the public.
10. To seek to expose all areas of the RICS where unnecessary expenditure and waste occurs and where self-interest groups are able to wield undue influence.
11. To provide members with positive benefits of membership, and to promote continuing professional development and advanced training at economic cost.
12. To assist members in obtaining comprehensive professional indemnity insurance cover at the lowest possible rates particularly with regard to fraud cover and run-off insurance.
13. To promote awareness of any instance where lenders refuse to appoint firms of valuers/surveyors to approved Panels of Valuers unless those firms are able to offer reciprocal mortgage business. The Association wishes it to be acknowledged that this practice leads to restriction of consumer choice and to potential conflicts of interest, both of which are not in the best interests of the consumer.
14. Where possible to influence conduct of the RICS by use of members’ votes and proxies to ensure promotion of all the foregoing aims and objectives.