Q&As

Following a successful professional negligence claim against a valuer, does a lender have to credit the loss recovered towards the borrower's account even though the loan is being maintained, ie the property has not been repossessed and sold?

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Published on LexisPSL on 19/11/2015

The following Dispute Resolution Q&A provides comprehensive and up to date legal information covering:

  • Following a successful professional negligence claim against a valuer, does a lender have to credit the loss recovered towards the borrower's account even though the loan is being maintained, ie the property has not been repossessed and sold?

As seen from Damages: Atkins Court Forms [28], available in Lexis®Library, the general position with regard to damages in professional negligence claims against surveyors is as follows:

'the losses attributable to the negligent valuation are ascertained by comparing the valuation negligently provided with the true value of the property at the time of the valuation . If the lender's actual losses are equal to or less than the difference between the true value

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