§ Mr. Clinton Davisasked the Secretary of State for the Environment if he will introduce legislation to compel prospective mortgagees to divulge the contents of a survey report, for which the prospective purchaser has paid a fee, to the prospective purchaser.
§ Mr. AmeryThe disclosure of the contents of a building society report might mislead the purchaser. The purpose of a building society survey is to ensure that the property represents adequate security for the loan. Such a survey is not a substitute for a full structural survey of the premises. A building society is fully entitled to recover from a borrower any expenses it incurs in arranging a loan, such as valuing the security offered.