The primary purpose of the ISA is to ensure the widest consumer access
to survey and valuation services through the promotion of the skills of
independent surveyors and valuers and the strict maintenance of professional
standards and ethics.
To aim to have outlawed all potential areas of conflicts of interest in
order to protect the consumer and in particular to prevent any firm of surveyors
and valuers owned or controlled by a Building Society (or similar Financial
or Insurance Institution) undertaking mortgage valuations on behalf of that
Institution where the property in question is being sold/marketed through
an Estate Agency controlled or owned by the Institution (and to seek to
have outlawed any case where a Lenders valuer (staff or group valuer) completes
a service for a purchaser of a property that the valuers immediate or superior
company owns or has a financial interest therein).
To promote the widest use of more detailed survey and valuation reports
as an alternative to, or in conjunction with, the existing simple mortgage
valuation report. The latter report, by definition, cannot give an accurate
picture of the condition of the property and this has led to litigation
and widespread consumer dissatisfaction.
To ensure prospective purchasers of residential property are made adequately
aware of and are encouraged to use the full range of valuation and survey
reports available to them and to have the opportunity to speak to a true
property professional prior to mortgage application stage so advice is given
only by those who are qualified to advise on type of report given a particular
property.
To ensure prospective purchasers are enabled to use the services of any
surveyor or valuer of their choice provided that the surveyor or valuer
has suitable expertise, geographical knowledge and adequate professional
indemnity insurance. Further to ensure that whenever a surveyor or valuer
who is suitably qualified has undertaken a report for such a prospective
purchaser then that expert's report will be acceptable to the lending institution
without an unnecessary requirement for further expenditure by the purchaser.
To represent member firms and individuals in all matters where restrictive
practices exist particularly in the field of residential mortgage valuation
but also in other fields of practice (including the commercial property
marketplace) as well as to promote fair competition in all aspects of professional
practice.
To represent the views of all members and member firms to the RICS as
well as to Government bodies, consumer representatives, the E.C. the Press
and any other public body or areas where surveyors' interests are debated.
To ensure 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 Institutions and members of the public.
To seek to expose all areas of the RICS where unnecessary expenditure
occurs and where self interest groups are able to wield undue influence.
To seek to establish 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.
To assist members in obtaining comprehensive professional indemnity insurance
cover at the lowest possible rates and where possible make available fraud
cover and run-off insurance.
Where possible to influence the conduct of the RICS by the use of members'
votes and proxies to ensure the promotion of all the foregoing aims and
objectives.
To promote awareness of the fact that many building societies and other
mortgage lenders are currently refusing to appoint firms of valuers/surveyors
onto 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 professional
conflicts of interest, both of which are not in the best interest of the
consumer.
