Court of Appeal rules against damages for a buy to let investor
update - Court of Appeal rules against damages for a buy to let investor relying on Lender’s valuation Litigation – Negligent Mortgage Valuation - No liability - Buy to let investorScullion v Bank of Scotland [2011] EWCA Civ 693
Case summary by Rudi RamdarshanLast week the Court of Appeal provided guidance on the extent to which a lender’s surveyor is liable for negligence to buy to let investor. The case serves as a useful reminder of the legal elements which are necessary to give rise to a liability in such circumstances. In light of the conclusions in the case, it is strongly advisable that buy to let investors obtain their own valuation survey rather than relying on that of the lender.
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With the current global financial crisis having such an impact on property, shares and business prices is it a wonder that attempts have been made by the financially stronger party of a relationship to vary previous financial settlements that were reached before the international recession?
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