Surveyor's negligence
Surveyor's negligence
- 2000
- Estates Gazette Case Summaries [1999] EGCS 28 (1) .
CA 17 February 2000. "UCB Corporate Services plc v Halifax (SW) Ltd (in liquidation). A bank instructed the respondent firm of surveyors to value two light industrial units. The mortgage valuation report gave the open market value and the 90-day mortgagee sale value as £665,000. The bank advanced a loan on the basis of this report, however the borrower then defaulted. The bank claimed a negligent valuation. "Held" claim dismissed.
NEGLIGENCE
MORTGAGE VALUATION REPORT
OPEN MARKET VALUE
UCB CORPORATE SERVICES PLC V HALIFAX (SW) LTD (IN LIQUIDATION)
MORTGAGEE SALE VALUE
LIABILITY
MORTGAGE DEFAULT
CA 17 February 2000. "UCB Corporate Services plc v Halifax (SW) Ltd (in liquidation). A bank instructed the respondent firm of surveyors to value two light industrial units. The mortgage valuation report gave the open market value and the 90-day mortgagee sale value as £665,000. The bank advanced a loan on the basis of this report, however the borrower then defaulted. The bank claimed a negligent valuation. "Held" claim dismissed.
NEGLIGENCE
MORTGAGE VALUATION REPORT
OPEN MARKET VALUE
UCB CORPORATE SERVICES PLC V HALIFAX (SW) LTD (IN LIQUIDATION)
MORTGAGEE SALE VALUE
LIABILITY
MORTGAGE DEFAULT