000			01443cam a2200217 4500
008			000000n2000 000 0 eng u
035			_a(Sirsi) u105755
245			_aUCB Corporate Services Ltd v Halifax (SW) Ltd and another
260			_c2000
490			_aEstates Gazette _v[2000] 16 EG 137-143(7)
520			_aCA 17 February 2000. On 30 April 1999 second respondent surveyor on instructions of appellant bank U made a valuation of commercial premises for mortgage loan purposes. The report gave the open market value of the freehold as £665,000 on a 90-day sale basis with U as mortgagees in possession. U made a loan of £532,000 based on the valuation. Mortgagor fell into arrears and U took possession. They expected to sell the property for £325,000. U claimed for negligence. CA upheld CC's decision that the valuation was not negligent on the grounds that the actual open market value was £644,000 and that the appropriate margin of error was 10%. Held that it was reasonable for the second respondent not to have made a discount to allow for a 90-day sale by a mortgagee in possession. Appeal dismissed.
590			_aABS
650			_aUCB CORPORATE SERVICES PLC V HALIFAX (SW) LTD (IN LIQUIDATION)
650			_aNEGLIGENCE
650			_aMORTGAGE VALUATION
650			_aVALUERS
650			_aSURVEYORS
650			_aMARGIN OF ERROR
690			_aPROFESSIONAL PRACTICE-NEGLIGENCE-CASE LAW
942			_n0
999			_c100467 _d100467