Claims against Surveyors
This could be where a valuer has negligently overvalued the property then you may claim the difference between the correct price and the overvalued price at the time of the valuation. Usually a discrepancy of 10% or more will be sufficient to show negligence.
Claims relating to overvaluation or overestimation of rental returns
This has been very common and sometimes estimated rental returns bear no resemblance to the real rents that can be achieved. It is possible to make a claim against a valuer who has prepared the valuation for the mortgage lender rather than you. Valuers have a duty to look at any discounts that have been given as this will often affect the value. For example, if numerous flats have been sold in a block with discounts and the Land Registry is showing the prices paid without discounts it is possible this information will give an inaccurate and inflated picture of the values.
The reasons you or your clients may have a claim are so numerous that is best to give our Solicitor a chance to check the surveyors file.
Claims against Solicitors
This is appropriate when Solicitors have negligently advised on the purchase of the property, including:- 1. Not checking if the property will be used solely for residential, 2. Does what you are buying include all what you believe including car parking spaces etc. 3. etc. 4. etc.
The reasons you or your clients may have a claim are so numerous that is best to give our Solicitor a chance to check the previous solicitors file.
Claim Against Developers or their Builders
Several questions arise, what have you bought? is the build acceptable? did you get a guarantee? is the guarantee worth suing on? is the developer worth suing? if they had a separate builder? if the developer is no longer trading? is the builder still trading? Your dissatisfaction needs checking.
You should be aware that any claim against the developer might be hindered if the developer goes out of business. The advantage of a claim against a valuer or a solicitor is that they have insurance.
It is best to give our Solicitors a chance to check all of your papers relating to your purchase and the papers relating to your subsequent problems.
Claim Against a Middleman
It is also possible you might have a claim against various ‘middle men’ including brokers and buying clubs where they have misled you and encouraged you to buy property. Time and time again we hear how buyers are told that they must act quickly as they are buying the ‘last flat’. Often agents will tell the buyer that they are the local experts and that the buyer should leave all the research to them. The buyer then finds that the agent has not told them about local conditions or features which make it difficult to rent out flats or affect the value of the property or rental yields.
It is best to give our Solicitors a chance to check all of your papers relating to your purchase.
Claims against Mortgage Brokers
Are you in a mortgage relationship that is unsuitable for you. Some brokers, certainly not all, placed their own interests above yours.
They may have put you in a “honeytrap” mortgage with a sub prime lender because they made more commission and you eventually lose out twice because not only do you get a dearer deal but when you want more finance you will be discriminated against, a double whammy.
It is best to give our Solicitors a chance to check all of your papers relating to your mortgage.