Lender's Valuer Liable to Buy-to-Let Investor
A recent High Court decision appears to have extended the duty of care which a valuer engaged by a lender owes to a buy-to-let investor. As a result any investor landlord who was given poor valuation advice when purchasing property may now be able to bring a claim against the valuer for the losses suffered.
In Scullion v Bank of Scotland plc (t/a Colleys) [2010] EWHC 2253 (Ch) the claimant Mr Scullion decided to enter the buy-to-let market to supplement his pension. He bought a new build flat in Cobham, Surrey in 2002 with a view to let it initially to cover...
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