There is no doubt that the chief reason for pursuing a claim for surveyor and property-related professional negligence is significant financial loss incurred by the claimant.
Although the ultimate test of this is always going to be an individual matter, it is also true that times of generalised economic hardship make it more incumbent on claimants to seek damages – during recessions, economic depressions, and periods of austerity, claiming compensation for monetary loss caused by financial negligence is, understandably, a priority.
For example, during the fallout from the recessionary periods hitting Britain during the first two decades of this century, it became clear that record numbers of house buyers, lenders, and property developers were all seeking to make surveyor and property-related professional negligence claims for the losses they’d suffered as a result of poor financial and investment advice provided during the new millennium’s initial “boom” period.
Most people mark the beginning of the end of this period as the 2007 “crash”. It is interesting to note that in the three years leading up to this point there was not a single property-related investment advice claim – yet, by way of comparison, in 2009 alone there were 25 such cases.
“Claims will most likely be related to mortgages or other lending taken out in the months before the property market began to crash in 2007. Unfortunately many of the last-minute claims will be opportunistic as organisations or individuals try [to] beat the deadline [?.?.?.] but even unsuccessful claims cost a lot of money for professional indemnity insurers to defend,” said one London-based professional negligence lawyer.
Claim compensation for surveyor and property advice negligence
For more than thirty years, Healys LLP lawyers have been providing its clients with authoritative and effective legal representation.
Our professional negligence team can help you secure full sums for any economic loss caused by the negligence of a surveyor, estate agent, valuer, or investment advisor.
Contact our London or Brighton teams today for information about claiming full sums from a defendant’s liability insurance.