The RICS stands for the Royal Institution of Chartered Surveyors.
Qualified members of the RICS may use the title ‘Chartered Surveyor’ and use the designation MRICS, or FRICS if they have progressed to become a Fellow.
Chartered Surveyors don’t all wear yellow hard hats and hi-vis jackets! In fact, many are more at home in pinstripe suits. There are a variety of specialist disciplines open to a Chartered Surveyor including Land Surveyor, Quantity Surveyor, Building Surveyors and General Practice / Valuation Surveyors.
Valuation Surveyors are the mortgage lenders usual port of call when commissioning a mortgage valuation although for structural surveys you will need a building surveyor. Professional valuers are normally members of the RICS Valuer Registration Scheme (VRS) which requires an annual assessment and compliance with RICS ‘Red Book’ guidelines.
Chartered Surveyors are required to maintain a set level of PI Cover (Professional Indemnity Insurance) which will be useful if they make a negligent report which you rely on and subsequently lose money as a result.
It’s worth noting that anyone can call themselves a surveyor, so checking for the designation MRICS or FRICS is important when commissioning a chartered surveyor to act on your behalf. Also, make sure that they are approved by the lender you are using. This normally means that they are on a ‘panel’ of valuers approved by the bank.
Related articles:
Download our Free First Time Buyers Guide
Recent posts
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
When will mortgage rates fall further?
7 days ago
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
Lloyds boost lending for first-time buyers
14 days ago
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more.
The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.
Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.
Nationwide ease criteria for first-time buyers
17 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.
Ways to save money over the summer holiday
23 days ago
Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break
The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.
More information
Trusted by
