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ARTICLE · 12 JULY 2016

Banks Boosted By Landmark Ruling On Surveyor Negligence

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David Golten comments in The Times on the Court of Appeal's landmark decision, ruling that lenders will be able to recover significantly larger amounts when suing over negligent property valuations.

United KingdomInsurance
David Golten
David Golten

David Golten comments in The Times on the Court of Appeal's landmark decision, ruling that lenders will be able to recover significantly larger amounts when suing over negligent property valuations.

Lenders will be able to recover significantly larger amounts when suing over negligent property valuations after a landmark court ruling that is forecast to have wide implications for professional advisers.

Legal experts warned that an immediate result of the Court of Appeal judgment handed down on Friday was that professional indemnity insurers would ramp up policy premiums for surveyors.

While banks and mortgage lenders will welcome the ruling, analysts said that solicitors, accountants and estate agents should also be braced for increased negligence insurance premiums, as other claims are likely to follow.

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