The Mortgage Corporation v Lambert and Co (a firm) (2) Thomas Alan Stanbury
The Mortgage Corporation v Lambert and Co (a firm) (2) Thomas Alan Stanbury
- 2000
- Building Law Reports [2000] 6 265-271(7) .
CA 11 April 2000. The claimant, (TMC) had advanced a mortgage on a house valued at £250,000 on 30 April 1990, by the defendant L. The borrowers defaulted on the mortgage and the property was repossessed. In April 1996, M's valuer retrospectively value the house, at £150,000, and the property was finally sold for £100,000. On 15 October 1996, TMC commenced proceedings, alleging that the valuers had acted negligently and over-valued the property. The issue was whether loss accrued more than six years before writ, and if the defendants assertion was correct, whether TMC could take advantage of the three year extension afforded by the Limitation Act 1980 s14A. Judge held that the provisions of the Act meant that the claimant's writ had been issued within time, the defendant appealded. 'Held' appeal dismissed.
MORTGAGE LENDERS
ARREARS
Valuation
MORTGAGE CORPORATION V LAMBERT AND CO (A FIRM) (2) THOMAS ALAN STANBURY
LIMITATION
LIMITATION ACT 1980 S14A
EXTENSION OF TIME
OVER VALUATION
CA 11 April 2000. The claimant, (TMC) had advanced a mortgage on a house valued at £250,000 on 30 April 1990, by the defendant L. The borrowers defaulted on the mortgage and the property was repossessed. In April 1996, M's valuer retrospectively value the house, at £150,000, and the property was finally sold for £100,000. On 15 October 1996, TMC commenced proceedings, alleging that the valuers had acted negligently and over-valued the property. The issue was whether loss accrued more than six years before writ, and if the defendants assertion was correct, whether TMC could take advantage of the three year extension afforded by the Limitation Act 1980 s14A. Judge held that the provisions of the Act meant that the claimant's writ had been issued within time, the defendant appealded. 'Held' appeal dismissed.
MORTGAGE LENDERS
ARREARS
Valuation
MORTGAGE CORPORATION V LAMBERT AND CO (A FIRM) (2) THOMAS ALAN STANBURY
LIMITATION
LIMITATION ACT 1980 S14A
EXTENSION OF TIME
OVER VALUATION