Top 10 for the 10s Claims against surveyors and valuers
The 2010s started with an influx of valuation claims, primarily involving lenders seeking to recoup losses suffered as a result of the financial crisis, loans being made to sub-prime borrowers and the declining property market.Issues including scope of duty, margins of error, lending criteria and contributory negligence took centre stage. During the middle of the decade, limitation became a key issue. As limitation periods for claims arising out of loans made prior to the financial crisis expired, there was a sharp decline in the number of claims against surveyors.
This article is a whistle-stop chronological tour of certain of the key decisions affecting surveyors over the past 10 years.
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