LIMITATION PERIODS AND NEGLIGENT VALUATIONS

The Mortgage Corporation v Lambert & Co (a firm) [2000] BLR 265

In The Mortgage Corporation v Lambert & Co (a firm) [2000] BLR 265 the defendants were alleged to have negligently over-valued property and the question before the Court of Appeal was whether or not the claim of the lenders who had advanced money in reliance upon the valuation was time-barred. The Court of Appeal concluded that the claim was not time-barred. The lenders were entitled to rely upon s14A of the Limitation Act 1980 and the valuers were unable to satisfy the court that it would have been reasonable for the lenders to obtain a retrospective valuation of the property prior to the expiry of the limitation period.