The Court of Appeal has overturned a decision by the High Court in 2010 that a surveyor owed a duty of care to a buy-to-let investor on a rental valuation.
The Court of Appeal made it clear that, as a matter of policy, a duty should not apply, noting that the particular feature of buy-to-let transactions is that investors are more likely than a simple residential purchaser to obtain an independent valuation of their own.
Although the possibility of an appeal to the Supreme Court remains, the decision will be a welcome relief to the surveying profession and its PI insurers. To read more click here.
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
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The original publication date for this article was 28/06/2011.
