Axa Equity & Law Home Loans Ltd v Goldsack & Freeman
Language: English Series: Estates Gazette ; (1994) 23 EG 130-134(5)Publication details: 1994Subject(s): Summary: QBD 18 February 1994. In September 1988 an employee of the defendant firm (G) valued a leasehold flat at £155,000 for mortgage purposes. On the basis of this, the plaintiff(AE) advanced sums of £108,500 to enable the purchasers to redeem an existing mortgage and carry out improvements. The flat was repossessed in 1991 and sold for £75,000. AE claimed damages from G alleging negligent over-valuation. The valuation had been reached by consultation with local estate agents. AE`s claim was dismissed; the valuation had been assessed correctly under GN22 of the Red Book and any devaluation of the property was due to the prevailing economic conditions.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS50955 (Browse shelf(Opens below)) | 1 | Available | 2949-1001 |
QBD 18 February 1994. In September 1988 an employee of the defendant firm (G) valued a leasehold flat at £155,000 for mortgage purposes. On the basis of this, the plaintiff(AE) advanced sums of £108,500 to enable the purchasers to redeem an existing mortgage and carry out improvements. The flat was repossessed in 1991 and sold for £75,000. AE claimed damages from G alleging negligent over-valuation. The valuation had been reached by consultation with local estate agents. AE`s claim was dismissed; the valuation had been assessed correctly under GN22 of the Red Book and any devaluation of the property was due to the prevailing economic conditions.