Duty of care
Duty of care
- 1997
- Estates Gazette Case Summaries [1997] EGCS 138 (1/11/97) .
"Secured Residential Funding plc v Nationwide Building Society" QBD 21 October 1997. A lending company (S) instructed the defendant (N) to do residential valuations of properties offered as security. A loan of £340,000 made. The borrowers defaulted and the property was sold at a much lower price than the valuation. S alleged that N`s valuation had been negligent. A hearing sought to establish whether the N owed a duty of care for its valuation report and whether, if so, the N could rely on its disclaimer notice to avoid liability. Judgment for N.
DUTY OF CARE
LIABILITY
RESIDENTIAL VALUATION
SECURED RESIDENTIAL FUNDING PLC V NATIONWIDE BUILDING SOCIETY
VALUERS
"Secured Residential Funding plc v Nationwide Building Society" QBD 21 October 1997. A lending company (S) instructed the defendant (N) to do residential valuations of properties offered as security. A loan of £340,000 made. The borrowers defaulted and the property was sold at a much lower price than the valuation. S alleged that N`s valuation had been negligent. A hearing sought to establish whether the N owed a duty of care for its valuation report and whether, if so, the N could rely on its disclaimer notice to avoid liability. Judgment for N.
DUTY OF CARE
LIABILITY
RESIDENTIAL VALUATION
SECURED RESIDENTIAL FUNDING PLC V NATIONWIDE BUILDING SOCIETY
VALUERS