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Administrative office

Broadbury
Okehampton
Devon
EX20 4NH

Tel/Fax:
01837 871700

Email

ISA Policy

  • 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.

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