How Do 95% Mortgages Work?

The major banks have launched their government-backed 95% mortgages. As such, people across the UK can now purchase a home with only 5% deposits.

The Mortgage Guarantee scheme was launched last week, intended to return mortgage opportunities for buyers with a 5% deposit.

The government has backed the scheme, acting as an insurance policy to lenders offering 95% loans. This protects them against the uncertainty of house prices declining. As a result, mortgage lenders have the confidence to lend to buyers with just a 5% deposit.

Where Can I Find A 95% Mortgage?

The major banks have already begun offering their new 95% loan-to-value product, including Lloyds, NatWest, Barclays, Santander and HSBC.

5% deposit mortgages are back 

The government-backed mortgage scheme has renewed confidence in lenders across the country. As a result, a number of lenders who are not using the guarantee scheme have also launched new mortgage products for buyers with a 5% deposit.

Lloyds, NatWest, Barclays, Santander and HSBC are taking part in the government scheme.

Although they are not taking part in the government scheme, they return to offering mortgages for those with a 5% deposit like they did pre-pandemic.

Accord Mortgages, Bank of Ireland, Skipton Building Society, Coventry Building Society, Aldermore Bank, and Buckinghamshire Building Society have already returned to 95% loans. Additionally, Leeds Building Society, Metro Bank, Atom Bank and The Cambridge Building Society have uncovered products.


Who benefits from 95% mortgages?

The new mortgage scheme could help many buyers who haven't been able to purchase a property with a 5% deposit. The new system widens the options for buyers who may have had only the Help to Buy equity loan scheme as an option, available only for new-build properties. This could also be a favourable opportunity for buyers who would put down a 10% deposit but can now choose to keep more money saved for any refurbishments the property needs or other costs. 

Restricted Criteria For Borrowers

Lenders offering new 5% deposit mortgage products have approached with caution, adding restricted criteria for borrowers. Some lenders are also currently only providing 95% mortgages via intermediaries.

The criteria include reduced maximum borrowing and tighter credit score requirements. The interest rates are also higher than the current 10% deposit mortgages.

Other limitations may include:

  • First-time buyers only
  • Lending only on houses, not flats or new builds
  • Capping at 4.49 times your income 
  • Five-year fixed rates only


Will this make homeownership affordable?

If you are a single buyer, the 5% deposit scheme may not be enough to help you purchase your first property. Analysis shows that homeownership remains unaffordable for many despite the 95% mortgage products.



Analysis: Single buyers in their thirties will still struggle to get on the property ladder under the new scheme. 

Property analysis found that single people in their thirties, earning the average UK salary, will still be unable to buy a home in around half of all local authorities in England and Wales.

For example, a single woman aged 30 to 39 earns the average UK salary of £30,258. She would not afford a median-priced home from the cheapest band in more than half of local authority areas, even with a 95% mortgage. A single man in this demographic earns an average of £34,567 and would not afford a mortgage in 48% of local authorities in the UK.

holiday lets uk

Where Are The Best Areas For Holiday Lets In The UK?

  • The Staycation boom boosts the holiday rental market.
  • The UK's national parks offer the most popular holiday let locations.
  • What are the best locations to invest in UK holiday lets?

The Staycation Boom 

The rise in staycations as a result of the coronavirus has boosted the short-term rental market. The areas of the country which can boast beautiful scenery and outdoor activities will attract the most interest.  


For these staycations, travellers are looking for nature-filled locations with properties to accommodate the whole family. The pet owners around the UK will also be looking to have their dogs come along on their holidays. As a result, holiday rentals become a far more practical option than hotels.

Where are the most popular areas for staycations?

The UK has 15 national parks across the country, which will be exceptionally popular in holiday times. 

‘In the UK there are 15 members in the National Park family, which are protected areas because of their beautiful countryside, wildlife, and cultural heritage. People live and work in the National Parks and the farms, villages, and towns are protected along with the landscape and wildlife.’ – National Parks UK

  • In England, there are 10 National Parks: The Broads, Dartmoor, Exmoor, the Lake District, the New Forest, Northumberland, the North York Moors, the Peak District, the South Downs, the Yorkshire Dales.
  • Scotland has 2 National Parks: Cairngorms and Loch Lomond, the Trossachs.
  • In Wales, there are 3 National Parks: the Brecon Beacons, Pembrokeshire Coast, Snowdonia.

In all of these areas, demand will likely exceed the supply for holiday rentals. As one of the UK's largest national parks, the Lake District will be an attractive option for domestic holidays and the nearby Yorkshire Dales.


Why are National Parks the best areas for holiday rentals?

For staycation holidays, travellers are looking for a property to enjoy a range of outdoor activities in the area. Hiking, cycling, rock climbing, and kayaking are among the adventures Brits are looking for. The UK's nationals parks have some of the best trails, cycle paths, and lakes.

National Parks in the UK welcome holiday-makers in the thousands annually and will only become more popular in the years to come.

Investing in UK holiday lets

Short-stay rentals have the potential to be more rewarding than long-term rentals, especially in the right location.

With so many incredible nature-filled locations in the UK, there is a wealth of opportunity for investment. As demand is sure to exceed supply during vacation times, a holiday rental property is likely to be successful on the short-term rental market.

Last-minute mini-breaks have become especially attractive since COVID restrictions came into place. Once the restrictions are eased, the rush to find a holiday home will see properties snapped up within weeks stretching throughout the summer holidays. Now is also a good time to invest in short-term holiday lets because they are COVID friendly. While some may remain tentative about staying in shared accommodation or hotels, rentals don't require human interaction, making it more appealing for coronavirus concerns.

new build properties

Is It Time To Focus On New-Build Properties?

  • What are the advantages of new-build properties? 
  • Why is now the right time to focus on new-build properties?
  • What are the effects of the Green Homes Grant?

There is growing interest in new-build properties in the wake of the pandemic as Britain tries to support both the economy and the environment.  Housing plays a substantial role in the UK's carbon footprint. The market will be key in reaching the government's net-zero goal on carbon emissions by 2050. Alongside this discussion, the Green Homes Grant scheme has raised awareness of the importance of eco-friendly housing improvements.

What Are The Advantages of New-Build Properties?

Cheaper Energy Bills

New-build homes usually have the top Energy Performance Certificate ratings of A or B. An EPC is a four-page document that evaluates a property's energy performance on a scale from A to G (A being the most efficient). The EPC of a property is vital in indicating how much heating and power will cost. New-builds, with the highest rating, have considerably cheaper annual energy bills and often require less upkeep.

Environmentally Friendly

Housing plays a substantial role in the UK's carbon footprint. Running a new-build property with efficient energy performance is much more environmentally friendly. More efficient housing is key to achieving the goal of net-zero by 2050. 

Boost the Market

Eco-friendly housing is sure to promote the UK's green credentials. This feature, in turn, will strengthen both the housing market and the private rented sector.


The Covid-19 pandemic has propelled the new-build industry.


Why is now the right time to focus on new-build properties?

In the wake of the coronavirus, the main concern for many is the UK's economic recovery. Placing focus on developing eco-friendly new properties could be a critical element in the UK's economic recovery post-COVID 19. 

As well as this, there is little time to wait on acting against climate change. If becoming more environmentally sustainable is top of your agenda, housing is a great place to start.

Discussing the environmental effects of our housing, property expert Evan Maindonald highlights this responsibility.

"Climate change will be far more costly to deal with in the future if it is neglected now... and so we must take the responsibility of being as environmentally sustainable as possible very seriously.

What are the effects of the Green Homes Grant?

The Green Homes Grant was put in place in 2020 to make energy efficiency improvements more accessible.  The results of the Green Homes Grant are already proving to be positive, with the public's awareness of environmental issues growing. However, the grant is due to end on 31st March 2021. As the plan reaches its end, will focus move away from energy-efficient improvements and towards EPC-friendly new-builds?

The effects of the Green Homes Grant are sure to continue. Following the government scheme, almost 84% of British homeowners plan to address energy efficiency changes in their property in 2021, according to a study by City Plumbing. Moreover, nearly 53% of households plan to invest in green measures specifically to reduce energy bills. The drive to improve the energy efficiency of our homes, alongside the surge in new-build interest is sure to have an impact. Yet, we will have to wait to find out the long-lasting effects environmentally-friendly housing will have in the UK's fight against climate change. 


To find out more about eco-friendly property, take a look at our article: Green property in 2021 

Is 2021 the right year to invest in short-term holiday lets?

  • Demand for holiday rentals has been on the rise.
  • Is 2021 a good year to invest in short-term holiday lets?
  • Why are they becoming more popular among holidaymakers? 

There is growing interest in short-term holiday lets in the UK. Following the first lockdown, Brits flocked to short-term rentals around the country. Once current lockdown restrictions are eased, UK staycations will likely undergo another boom. After spending so much time stuck at home, many will be longing to get away as soon as possible. 

International travel is still forecast to remain under limitation for quite some time. As a result, the local travel market will have a comeback. Additionally, the coronavirus pandemic's financial implications will mean that more people are likely to continue to take local holidays to save money even once travel restrictions have been eased. 

Is now the time to invest in holiday lets?

Experts predict the short-term letting sector to see further growth in the coming years. Recently, the rise of staycations has rejuvenated the business. It is now becoming more popular for buy-to-let landlords to branch out into holiday rentals. 


An increasing number of landlords are adding short-term let properties to their portfolios to diversify their investments. Brexit is anticipated to strengthen this market further. The rate of the pound sterling has remained in a slump since the 2016 EU referendum. The unfortunate exchange rates make staycations even more attractive to British holiday-makers. Additionally, it has also become cheaper for foreign tourists to visit the UK, causing further tourism growth.


There is the potential for landlords to earn significantly more from short-term holiday rentals than long-term rental properties. It is not uncommon for holiday rentals to charge more money for a one-week stay than a buy-to-let would for a month. There are also tax benefits to be considered for furnished holiday lets.

Why are short-term holiday lets becoming more popular among holidaymakers?


Privacy has become more of a priority among holiday-makers. It is more popular than ever for holiday-goers to find private accommodation across city, rural, and coastal destinations around the country.

Booking Apps

Many successful booking apps have made it quick and easy for travellers to find accommodation. The apps also make it simpler for rental owners to list their accommodation across a far-reaching platform. One of the most popular apps is Airbnb, which has considerably affected the short-term rental boom. 

Environmental Awareness

As more people become aware of their environmental impact, many individuals choose to stay closer to home rather than fly abroad. Taking environmental responsibility for climate change and reducing personal carbon footprint will lead people to take more staycations, which will give an extra boost to the UK's holiday lettings market.


In 2020, last-minute mini-breaks became especially attractive. Following the first lockdown last summer, Brits jumped at the opportunity to book a staycation holiday around the UK. Once restrictions are eased, the public will likely replicate this.

Short-term holiday lets will also be preferable in 2021 because they are COVID friendly. Most rentals require no human interaction, making it more appealing for coronavirus concerns. Booking, communication, and payment can all been made online or via a host of apps. 


New leasehold reform: Will it make homeownership fairer?

  • New leasehold reform will save millions of leaseholders tens of thousands of pounds
  • What does the reform change?
  • Will it make homeownership fairer?

 What is the new leasehold reform?

New legislation that has been brought forward, will give leaseholders the right to extend their lease for 990 years at zero ground rent. The leasehold reform will save millions of leaseholders up to tens of thousands of pounds. The government described these measures as part of English property law's biggest reforms in 40 years.

Housing Secretary Robert Jenrick says: "Across the country, people are struggling to realise the dream of owning their own home but find the reality of being a leaseholder far too bureaucratic, burdensome and expensive.

"We want to reinforce the security that homeownership brings by changing forever the way we own homes and end some of the worst practices faced by homeowners."

What does the reform change?

The reform will give leaseholders the right to extend their lease by a maximum span of 990 years with zero ground rent. Previously, leaseholders of houses have only been able to extend their lease for 50 years at a time and had to pay ground rent. 

Leaseholders have also been met with expensive charges to extend the lease. Some of these extra costs have now been abolished with the reform, such as the "marriage value". This required leaseholders to share information with the freeholder about potential profits from extending a lease.

A cap on ground rent, the cost paid when a leaseholder extends the lease or buys the freehold, will also be introduced. An online calculator will now make it easier for leaseholders to know how much it will cost to do either. This hopes to make the costs associated with a lease more transparent.

Will it make homeownership fairer?

While the proposed leasehold reform has much to support, many in the industry feel they need some more detailed information. There are concerns that the reform has created further uncertainty for leaseholders. Moreover, there is apprehension that the proposed actions could take years to become law.

However, for many in the property industry, there is a shared hope that the reform will make homeownership fairer and put an end to the ground rent scandal.

What is the ground rent scandal?

The ground rent scandal is one of the reasons why leasehold reform is so important. Objections to the unfair expenses on leasehold flats and homes sold with unclear clauses began some years ago. Some clauses involved freeholders increasing ground rent excessively. In some cases, leaseholders saw their rent double every ten years. The increased costs left some homeowners struggling to sell their property. As a result, properties with short-leases or high ground rents are often left vacant. 

Mark Hayward, the chief policy advisor at Propertymark, discusses the organisation's research into the ground rent scandal:

"Our research' Leasehold: A Life Sentence' in 2018 found that 46 percent of leasehold house owners were unaware of the escalating ground rent when they purchased their property. Over one million households in the UK are sold through a leasehold, and this new legislation will go a long way to help thousands of homeowners caught in a leasehold trap."



Homeowners will see direct benefits from the government's leasehold reform. 4.5 million homeowners will save up to thousands to tens of thousands of pounds. Furthermore, the reform will allow leaseholders to buy a freehold for a lower price. Overall, homeownership costs will become cheaper, and property sales will be more straightforward.

Let's not forget about the benefits for properties with shorter leases. Properties with short-leases or high ground rents are sitting empty around the country as owners struggle to sell. Homebuyers will now become more open to purchasing properties with shorter leases leading to fewer stranded, vacant properties. 

All in all, the leasehold reform is provides willingly received changes to many in the property industry. The only desires that remain are for details to be made explicitly clear and actions to be fulfilled promptly.


How Does Development Finance Work?

Development finance is a flexible way to fund property development projects, allowing borrowers access to capital faster than traditional banks. Typically, development finance does not adhere to such strict lending criteria meaning that finances can be obtained more easily. This type of finance typically allows the borrower access to greater sums.


Funding Development Finance: A Two Part Process

Typically development funding works in two parts.

  1. Land Costs
    The first is securing the development site and providing the funds to cover this. This may be a plot of land where a new build will be built or an existing property that developers are wanting to refurbish. Typically, lenders will contribute towards a percentage of the land costs.
  2. Build Costs
    The second stage of the funding is covering all of the costs of the building works for the project. Depending on the agreement made, this typically happens monthly to cover ongoing costs rather than one lump sum. The majority of lenders will offer a maximum of 75% of the total build costs.


How Much Funding Can Be Secured?

If you come across an opportunity to build, renovate or develop a property, Octagon Capital can give you access to capital in order to help fulfil your project. The amount you can borrow is based on the Gross Development Value (GDV), the estimated value of the project upon completion. With Octagon Capital, you can apply to borrow up to £25 million towards your development finance project. This figure is based on around 100% of build costs and 50% to 70% of the land costs.




The amount of funding available varies depending on multiple factors including the type of project, how experienced the developer is, and the forecasted costs of the build. There is an Independent Monitoring Surveyor (IMS) who works on behalf of the lender to oversee budget and time-frame. The costs of the IMS will also be incurred by the borrower.

3 key factors that will be considered before any development loan:

  1. Current value of the site (pre-development or pre-refurbishment)
  2. The build costs
  3. The gross development value after the works

Other factors vary from lender to lender but may include:

  1. Maximum loan amount
  2. Length of loan
  3. Interest rate
  4. Proportion of borrowed money out of overall costs


Why Choose Octagon Capital?

Octagon Capital offers a personalised approach. The initial meeting allows you to outline your project with one of our team members. From that we can assess your needs and set about finding the best course of action to see your project plans into fruition.


Contact us at Octagon Capital to explore the best options for development finance



Is Development Finance the Right Option For Me?

If you are looking to do a total large-scale renovation or build from scratch, development finance is a great option to secure the funding that you need. They allow you money in the short-term to finance your projects and you pay back the loan and any additional incurred costs after the properties are sold. Development finance is an ideal solution for those looking for short-term funding (usually between 6-18 months).


What Can I Use Development Finance For?

Development finance can be used to fund many different purposes covering everything from new builds to buying land to major renovation projects.


Residential Property Development




For those looking to renovate, refurbish or buy properties for residential purposes, development finance can be a great choice. This is true whether your project involves single residential builds to larger-scale multi-unit development complexes. With Octagon Capital, you can access funds for construction costs and purchase the property with a flexible repayment plan. Upon completion, you have the flexibility to either sell the flats at a higher price or rent them out.


Commercial Property Development




If you are wanting to finance a commercial property development project, development finance could be the ideal solution. Whether your projective involves offices, shops or even vacant land, development finance could help fund all of the fittings and fixtures of a commercial property. Speak to an advisor today to learn more about our panel of lenders, many of whom are experienced in commercial property development.


Ground Up Development




Development finance is a perfect option for those looking to start from zero. Those looking to take on such a grand project need not be put off by the funding part. Whether you are starting with a completely empty plot of land or looking to totally renovate an existing property, development finance can help you fund the project. Once completed, you can reap the benefit of a fully functioning property, ready to sell on or rent out.


Advantages of Using Development Finance

Even for those lucky enough to be able to self-fund a development project, there are benefits to looking to development finance to cover some or all of the costs. Opting for development finance enables:

  • Access to larger funds
  • Untouched personal cash flow
  • Ability to take on multiple simultaneous projects
  • Greater return on investment rate


Am I Eligible For Development Finance?

To be eligible for development finance with Octagon Capital you must meet the following criteria:

  • You must be based in UK, Scotland or Wales
  • You must have information including GDV, construction and site costs
  • All credit histories considered
  • Must be a limited company


What Information Would I Need?

In order to apply for development finance with Octagon Capital you can make a quick enquiry via phone call, email or filling out the contact form, with just a few basic details including:

  • Details of the development project
  • Property size
  • Amount you are looking to borrow

With those few details, an advisor can indicate what possibilities are available, how much you could potentially borrow and at what rates.


Contact us at Octagon Capital so see what is the best option to suit your project needs


development loan

Repaying a Development Loan

Borrowers will need to repay lenders according to the agreed term after the sale of the property. One of the greatest advantages of development finance is its flexibility for borrowers meaning that there are many different repayment options. In certain cases, an extension can be provided in order to give more time to secure the sale although this may incur additional costs.


When Do I Have to Repay the Development Loan?

At the beginning of the financial agreement, a repayment plan including timescales is agreed by both parties: those lending the money and those borrowing.




As part of this, lenders will want to see an ‘exit plan’ before agreeing to the loan. Development projects are usually repaid through sale or refinance.

Most common exit routes: 

  • Build to sell (sale of the finished property)
  • Refinancing using a developer exit product
  • Long term refinancing (including build to rent)


How Much Interest Do I Need To Pay?

There is not a set rate for property development finance. When seeking this type of funding, you will be matched with the best lender for your project needs from a panel of specialist property development lenders who will negotiate the best rate for each proposal.

As such, interest rates will vary from lender to lender and depending on the specific details of the project. A reasonable starting point is around 6.0% interest rate. Typically, this can be rolled up into the loan to avoid the necessity for monthly payments.

Most facilities are set up to allow monthly interest charges to be repaid once the loan is redeemed. The interest is added to the facility, rather than the developer, so they can focus on the project rather than payments.

Thus, interest is payable upon completion of the project and the agreed exit strategy. If any units of the development are sold before the end of the project, those proceeds can also be put towards paying off the outstanding amount.


Repayment Methods

Interest Only

Most development loans are arranged on an interest-only basis meaning that at the end of the works you need only repay the interest accumulated throughout the duration of the project. Development loans are typically short-term loans (between 6-18 months) so at the end of this period you would pay the interest. Eventually, you can pay off the full loan either as a lump sum or with higher monthly payments. This usually coincides with the sale of a unit or multiple units of the development.

Rolled Up

Rolled up interest payments mean that you pay everything back at the end of the project in one lump sum. This negates the need for monthly payments and allows developers to focus solely on the completion of the works. At the end, with the agreed exit strategy, they will pay back the loan with the accrued interest.

Development Exit Finance

Exit finance allows you to repay development finance before the sale of your development, should you choose to do so. Exit finance typically holds a lower rate than development finance. The key reasons to use this type of financing are:

  • Reducing costs and increasing the profitability of the project
  • To act as a buffer if your existing development finance is coming to an end and will not cover the end of your project
  • In order to free up capital earlier leaving you more capital to fund future projects

Contact us at Octagon Capital to explore the best options for development finance


David Beard

David Beard Comment - From Lending Expert - "Second Charge Lenders Still Have a Good Appetite"

Second charge lenders still have a good appetite, explains David Beard, the founder of Lending Expert, one of the UK's leading price comparison websites.

Beard explains that whilst the UK is in its third lockdown, the housing market remains open and property valuations can still take place, allowing applications to be processed and deals to be completed across second charge loans, mortgages, bridging loans and more.


David Beard, founder of Lending Expert, explained:

“While business levels were quite significantly effected during the first national lockdown in March 2020, it’s now “business as usual” during this third lockdown for the secured loans industry.” 

“January 2021 is showing that many second charge lenders still have a good appetite to lend and borrowing rates and products have mostly remained unchanged. The key differences to note are during this third national lockdown is that the housing market has remained open and lenders are able to instruct surveyors for home valuations which is critical to successfully carry out secured lending and mortgage applications.”

“This time round there is no restriction on physical valuations and for over a decade the industry has offered a huge range of products available using Hometrack or similar desktop valuation models.”


david beard lending expert
David Beard believes that second charge lending will thrive, despite the third lockdown


Stamp duty deadline also likely to play a role

With the upcoming stamp duty deadline of 31st March 2021, this will certainly play a role in boosting mortgage applications and deals in Q1. With those properties under £500,000 in the UK incurring zero stamp duty, there is certainly an incentive for first-time buyers, homeowners and developers to make an application or complete on a purchase, giving them a saving of £15,000.

With the deadline around 8 weeks away, this will certainly be a busy time for borrowers, brokers and lenders and this will continue to drive the second charge and general mortgage market, certainly in Q1.

What remains after in Q2 is yet to be determined and it could result in a major house pricing crash or a surge in house prices too.


About second charges

Second charge loans are used by developers and homeowners as a way to raise additional funds on an existing mortgage. The amount you can borrow is a little less than your first mortgage and it is known as a second charge because it is the second priority after your first mortgage has been paid. For developers, second charges are used to pay off existing debts, renovations, building work or finance a new property. For homeowners, second mortgages are often used to raise funds for debt consolidation, school fees, weddings and more. There is always a risk of repossession if you cannot repay your loan on time, or you may have to give up equity in your first original property to the outstanding lender.



A Guide on How to Become a Property Surveyor - The Qualifications, Salary and Skill Requirements

To give you an insight into the profession of a property surveyor, Octagon Capital looks at everything you need to know about becoming a property surveyor.


Key Points

  • A property surveyor is a qualified professional who is brought into to assess the structural integrity of a building - maybe for purchase, sale or valuation purposes
  • A graduate surveyor can earn between £22,000 to £26,000



What does a property surveyor do?

A property surveyor is a qualified professional that assesses the structural integrity and quality of a building - including homes, offices, retail stores, garages and more.

A surveyor is typically brought in to assess the quality and value of a property, which the owner may wish to put on the market or better understand the value of their asset. The role of the surveyor is key to highlight any risks for potential owners or buyers and their involvement is usually a requirement to complete on any kind of property purchase, mortgage deal or even a bridging loan.

Property surveyors work in housing (residential) or for offices and retailers (commercial).

There are several titles under the role of a property surveyor including building surveyor, land surveyor or chartered surveyor.


What are the key responsibilities of a property surveyor?

Property surveyors essentially contribute towards the smooth running of the property market. Their main responsibilities typically involve:

  • Analysing progress reports
  • Dealing with planning applications
  • Following health and safety regulations
  • Reviewing project tenders
  • Conducting risk assessment and cost control
  • Advising subcontractors and clients
  • Preparing scheme designs with costings and specifications
  • Carrying out feasibility studies



A property surveyor checks the quality and integrity of a property or building and their role is key to proceed with a mortgage or property purchase.


What is the salary of a property surveyor?

Graduate surveyors can expect to earn between £22,000 to £26,000 and with a few years of experience, this can rise to the bracket of £28,000 to £50,000.

Senior level surveyors can expect to earn upwards of £70,000 and there is even potential to reach a six-figure salary at partner or director level.

Property surveyor salaries not only depend on experience, but also location. Surveyors based in central London can expect higher salaries than those operating outside of the capital.

According to the RICS Macdonald & Company Rewards & Attitudes Survey conducted in 2019, the average salary of a property surveyor was £48,000. Chartered surveyors were found to earn around 38% than those non-chartered.


What qualifications do you need to become a property surveyor?

To become a property surveyor, there are typical requirements of a degree or professional qualification approved by the Royal Institute of Chartered Surveyors (RICS) in one of the following subjects:

  • Civil engineering
  • Building engineering
  • Property
  • Construction
  • Surveying

Studying a RICS-accredited degree or qualification will give you the relevant training to become a chartered surveyor.

This can be completed at undergraduate level in 3 years - see RICS Courses for more information.

Courses can also be completed online here at

Another option is getting a postgraduate qualification with a RICS-accredited Masters degree which will lead towards chartered training. Some employers may even support students taking this course with funding.

Additionally, there are apprenticeship opportunities for those who do not wish to go down the formal further or higher education route -


What skills do you need to become a property surveyor?

If the idea of working as a property surveyor interests you, it is important to check whether you have the right skills required for the job role before going further. Property surveyors need to have:

  • A driving license (to visit different sites)
  • A local and practical mind
  • Strong oral and written communication skills
  • The ability to build strong relationships with clients and peers
  • Knowledge and interest in buildings and construction
  • Negotiation, presentation and report writing skills
  • Commercial awareness



A property surveyor should have good communication skills and have a good knowledge of buildings and property.


Can you work as a freelancer or with a firm?

Yes, It is possible to freelance as a property surveyor, but the decision to do so usually comes after several years of experience and building up a reputable client base. Going freelance suits those who may wish to specialise in one particular area, such as building defects or sustainability.

Typical career prospects for a property surveyor who is not freelance include working within the public sector or organisations. In large organisations, there are often formal channels of promotion and greater responsibility.

Either way, the environment you work in will certainly vary from day-to-day. For instance, you could be working on a construction site one day, and then from home or in an office the next.


The governing bodies for surveyors in the UK


The Ecclesiastical Architects & Surveyors Association (EASA) -