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XIT2 predicts chronic shortage of surveyors

The survey of lenders, intermediaries, estate agents, surveyors and solicitors predicts a chronic shortfall with only 3% thinking there will be enough surveyors to handle the increased workload created by HIPs.

Paul Duckworth, xit2 managing director, says: “These results will force the market to sit up and take notice. In an already overstretched industry this could create significant delays in the marketing of properties.”

xit2 fears that without enough RICS-qualified surveyors the UK may be forced to follow other countries with building firms offering surveying services. Lenders could lack confidence in non-RICS valuers.

Duckworth adds: “One way to mitigate some of the deficit would be lenders using more automated valuation models for low LTV loans.”

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The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.

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