Europe Mortgage Co Ltd v GA Property Services Ltd
Europe Mortgage Co Ltd v GA Property Services Ltd
- 1999
- Estates Gazette [1999] 50 EG 77-84(8) .
QBD 22 April 1999. Defendant valuer, G, valued a large country house for claimant mortgagee, E, at £1.65m. In 1997 E disposed of its interest in a portfolio of loans to a building society at a discount. Because of the discount, E incurred a loss of £456,703 on the loan of the subject property. E contended G had been negligent in its valuation. "Held" claim was dismissed. Although the property was overvalued in 1991, by 1997 it was worth at least £1m.
NEGLIGENT VALUATIONS
NEGLIGENCE
DAMAGES
MORTGAGES
EUROPE MORTGAGE CO LTD V GA PROPERTY SERVICES LTD
QBD 22 April 1999. Defendant valuer, G, valued a large country house for claimant mortgagee, E, at £1.65m. In 1997 E disposed of its interest in a portfolio of loans to a building society at a discount. Because of the discount, E incurred a loss of £456,703 on the loan of the subject property. E contended G had been negligent in its valuation. "Held" claim was dismissed. Although the property was overvalued in 1991, by 1997 it was worth at least £1m.
NEGLIGENT VALUATIONS
NEGLIGENCE
DAMAGES
MORTGAGES
EUROPE MORTGAGE CO LTD V GA PROPERTY SERVICES LTD