好色先生TV

Nationalised mortgage lender Northern Rock Asset Management has launched a High Court action against surveyor Hockleys Professional over a house valuation, sparking renewed claims that such litigation is damaging the market.

The 拢140,000 claim has been lodged at the Technology and Construction Court. It relates to a 拢480,000 valuation of a house in Hertfordshire in 2004 that was purchased with a Northern Rock loan but repossessed and sold for a considerable loss in 2009. Hockleys is under new ownership and the case is being contested by its insurers.

鈥淭he defendant failed to provide a reasonably accurate market valuation of the property,鈥� the claim states. 鈥淏y doing so, the defendant failed to exercise the skill and care of a reasonably competent property valuer.鈥�

Northern Rock Asset Management (NRAM), which is owned by the taxpayer, has also lodged a separate claim against Countrywide Surveyors.

Roger Humber, strategic policy adviser for the House Builders Association, said such moves were depressing the price of new builds and damaging the industry.

According to Nationwide, house prices have fallen by about 12% since their peak in 2007 despite tentative rises since then.

鈥淭he major lenders have been suing or threatening to sue valuers since the downturn and that has become a factor in the market. You are getting down-valuations because valuers are terrified of being sued,鈥� he said.

David Dalby, director of residential professional at the RICS, said such legal action was often on a no-win-no-fee basis.

鈥淭he valuation may just be a reflection of the market,鈥� he said. 鈥淭he concern we have is that some lenders take the attitude 鈥檌t must be someone鈥檚 fault鈥� and let鈥檚 go for the surveyor because they are an easy target.鈥�

A spokesman for NRAM said it could not comment on individual cases. 鈥淲e do not take such actions lightly or without further independent advice,鈥� he said.

鈥淎s a government-owned mortgage service provider we operate on a commercial basis and are mindful of our role and delivering value for our key shareholder - the taxpayer.鈥�