Good news for investors on the horizon?
December 14, 2011
Posted by:Sonita Hayward
Permission to appeal to the Supreme Court has been granted in the case of Scullion -v- Bank of Scotland Plc (trading as Colleys). The basis of the appeal is to argue that a duty of care is owed by a mortgage valuer to a buy-to-let borrower in respect of purchases of modest residential property, as per the findings of the Judge at first instance. If the appeal is successful, this could result in inexperienced investors who were trying to cash in on the property boom being able to bring a claim for negligence against their lender's surveyor or valuer, in circumstances where the valuation was grossly in excess of the true value of the property.