Asbestos was used extensively as a building material in the past but can cause very serious health problems if inhaled. There is no need for asbestos to be removed from a building if it is in a good and stable condition. If it is in poor condition or likely to be disturbed it should be removed by appropriate professionals.  

A valuer carrying out a valuation of a property for a mortgage lender will assume there is no hazardous material such as asbestos present. If the valuer believes it may be present after they have inspected the property, they will need to report this to the lender. The lender may want to know that it is present, the potential effect on the property value, and whether it needs to be removed. It is up to individual lenders to decide what steps need to be taken if asbestos is discovered. Lenders may want to ensure that their customer is informed that its presence has been raised.  

Further information on asbestos can be found on the Health and Safety Executive website.