Negligent valuation.
Negligent valuation.
- 1999
- Estates Gazette Case Summaries [1999] EGCS 109 (1) .
Mortgage Corporation v Lambert. ChD 19 July 1999. The claimants had advanced a mortgage on a property valued at £250,000 by the defendant firm. The borrowers later fell into arrears on their mortgage repayments and the property was repossessed. Valuers appointed by the claimant submitted a retrospective valuation putting the 1990 value at £150,000. The claimant later sold the property for £100,000, and issued a writ against the defendant for negligently overvaluing the property. The claimant relied on the Limitation Act 1980 s14A. Held the limitation defence failed on the 14A issue.
MORTGAGE CORPORATION V LAMBERT
MORTGAGE LENDERS
ARREARS
Valuation
Mortgage Corporation v Lambert. ChD 19 July 1999. The claimants had advanced a mortgage on a property valued at £250,000 by the defendant firm. The borrowers later fell into arrears on their mortgage repayments and the property was repossessed. Valuers appointed by the claimant submitted a retrospective valuation putting the 1990 value at £150,000. The claimant later sold the property for £100,000, and issued a writ against the defendant for negligently overvaluing the property. The claimant relied on the Limitation Act 1980 s14A. Held the limitation defence failed on the 14A issue.
MORTGAGE CORPORATION V LAMBERT
MORTGAGE LENDERS
ARREARS
Valuation