Mortgage Express Ltd v Bowerman & Partners
Mortgage Express Ltd v Bowerman & Partners
- 1996
- Estates Gazette 1996 04 EG 126-130(5) .
CA 11 July 1995. Cross appeal by firm of solicitors against award of damages for negligence. G, partner in a firm of solicitors acted for both H and respondent lender M in relation to H`s acquiring a flat for £220,000 and the creation of a mortgage by H to M to secure a loan of £180,150. G was sent a copy of the valuation of the flat for £199,000. H`s immediate vendor was acquiring flat for £155,000 but G failed to inform M. H defaulted in his mortgage payments and M repossessed flat which was eventually sold for £96,000. M argued that if it had been informed of sale to H`s vendor at £150,000, it would have arranged for a second valuation. M`s appeal on damages allowed. Cross appeal dismissed on grounds that G owed duty to inform M of price increase.
BREACHES OF TRUST
DISCLOSURE OF INFORMATION
DUTY OF CARE
DUTY TO INFORM
LIABILITY
MORTGAGE EXPRESS LTD V BOWERMAN AND PARTNERS
NEGLIGENCE
SOLICITORS
Valuation
CA 11 July 1995. Cross appeal by firm of solicitors against award of damages for negligence. G, partner in a firm of solicitors acted for both H and respondent lender M in relation to H`s acquiring a flat for £220,000 and the creation of a mortgage by H to M to secure a loan of £180,150. G was sent a copy of the valuation of the flat for £199,000. H`s immediate vendor was acquiring flat for £155,000 but G failed to inform M. H defaulted in his mortgage payments and M repossessed flat which was eventually sold for £96,000. M argued that if it had been informed of sale to H`s vendor at £150,000, it would have arranged for a second valuation. M`s appeal on damages allowed. Cross appeal dismissed on grounds that G owed duty to inform M of price increase.
BREACHES OF TRUST
DISCLOSURE OF INFORMATION
DUTY OF CARE
DUTY TO INFORM
LIABILITY
MORTGAGE EXPRESS LTD V BOWERMAN AND PARTNERS
NEGLIGENCE
SOLICITORS
Valuation