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Anyone who has got the Sun newspaper handy (I know) ought to look at the advert on the back.

It's for a company called Neglect Assist (www.neglectassist.com) who are offering to sue mortgage companies and surveyors for their 'negligence' in over-valuing new build flats.

My thoughts on this are that people invested in the hope of turning a profit, and that it's tough tits if they lose out. However, I also feel that anyone bringing prosecutions in this way is an interesting development in the whole ponzi scheme.

Thoughts of the forum would be very welcome.

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Anyone who has got the Sun newspaper handy (I know) ought to look at the advert on the back.

It's for a company called Neglect Assist (www.neglectassist.com) who are offering to sue mortgage companies and surveyors for their 'negligence' in over-valuing new build flats.

My thoughts on this are that people invested in the hope of turning a profit, and that it's tough tits if they lose out. However, I also feel that anyone bringing prosecutions in this way is an interesting development in the whole ponzi scheme.

Thoughts of the forum would be very welcome.

small guy vs banksters

wonder how soon until neglectassist.com get aggresively bought up by a cartel of HBOS, HSBC, Barclays, Santander and RBS?

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small guy vs banksters

wonder how soon until neglectassist.com get aggresively bought up by a cartel of HBOS, HSBC, Barclays, Santander and RBS?

Could this be a way to speculate and accummulate? Take on the banks, threaten to expose the fraud and hope they come along and buy you out.

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If the property sold, they couldn't have been overpriced. End of.

unless the sub-market - and individual developments of flats may count as such - is rigged by colluding parties looking to screw the buyer????

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There are lots of monkies on MSE who still believe that surveyors are undervaluing the house they want to buy and bleat "can i get another surveyor to value it for more"

Idiots. The bl**dy lot of them.

Reminds me of the not the 9 o clock news thing about the TV licence

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unless the sub-market - and individual developments of flats may count as such - is rigged by colluding parties looking to screw the buyer????

Perhaps, and I was being a bit strident. Clearly if anti-competition stuff like price-fixing between developers was uncovered, that's wrong and could no doubt be dealt with by existing legislation without recourse to outfits on a conditional fee basis. I imagine some of these complaints will be in the same vein as personal injury claims: make some noise and settle. The impression I got from the website of this lot is that their stance is 'if it's worth less now, then you've likely been screwed'. I'm not sure that would be easy to prove, 'cos at the end of the day they signed on the dotted line and other non newbuild in the area was likely selling for similar prices. I'm not sure, in the absence of clear collusion of the sort you mention, how anyone could make a case work on the basis of simply paying too much. Seems to me like desperate flailing in order to nail someone else for a poor decision.

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Perhaps, and I was being a bit strident. Clearly if anti-competition stuff like price-fixing between developers was uncovered, that's wrong and could no doubt be dealt with by existing legislation without recourse to outfits on a conditional fee basis. I imagine some of these complaints will be in the same vein as personal injury claims: make some noise and settle. The impression I got from the website of this lot is that their stance is 'if it's worth less now, then you've likely been screwed'. I'm not sure that would be easy to prove, 'cos at the end of the day they signed on the dotted line and other non newbuild in the area was likely selling for similar prices. I'm not sure, in the absence of clear collusion of the sort you mention, how anyone could make a case work on the basis of simply paying too much. Seems to me like desperate flailing in order to nail someone else for a poor decision.

fair enough

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It's not enough to prove that the valuation was wrong. You have to prove it was negligent.

The test of negligence (and its legal definition) depends on proving that the defendant behaved in a way that would be totally different from his or her peers. Specifically, you'd be looking for a defendant who kept no records of his valuations and how he arrived at them, and a large body of equivalent professionals with diligently maintained records showing how their valuations are calculated.

Next you need to show that the negligent valuer had a duty of care to the plaintiff. If the valuer is providing a valuation for the lender then the bank could sue the surveyor, but it's hard to imagine a court recognising the borrower's right to legal redress, as there is no duty of care to the borrower/buyer. I would assume that duty of care only exists when the buyer personally contracts the services of the surveyor.

Lastly the plaintiff has to establish that it was the defendant's negligence alone that caused the loss, and that the plaintiff couldn';t reasonably be expected to have avoided or mitigated the loss. You would have to establish that the buyer/investor just could not possibly have known any better than to pay too much for the asset. The surveyor is giving a professional opinion on value/structural integrity, but I think those opinions carry usual caveats and cautions, and the decision to buy rests with the purchaser.

Sounds very unlikely that legal action could succeed in court. However I am guessing surveyors have indemnity/insurance for this, and where insuers are involved deals are often done as a means to avoid costs of protracted legal action. It is often cheaper to settle a claim than defend it.

Fraud is different of course. No indeminity. No insurance. Just prosecution, and I doubt that those convicted will have any assets left to pay off those who lost money.

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<br />Anyone who has got the Sun newspaper handy (I know) ought to look at the advert on the back.<br /><br />It's for a company called Neglect Assist (www.neglectassist.com) who are offering to sue mortgage companies and surveyors for their 'negligence' in over-valuing new build flats.<br /><br />My thoughts on this are that people invested in the hope of turning a profit, and that it's tough tits if they lose out. However, I also feel that anyone bringing prosecutions in this way is an interesting development in the whole ponzi scheme.<br /><br />Thoughts of the forum would be very welcome.<br />

Like Bankers who secretly own chains of EAs and manipulate the housing market

- Could the Insurance Industries be owning some of the ambulance chasers (manipulating plants/stooges blamed for car insurance shooting up to £1000) and this lot who will double surveyors insurance premiums at least, the extra costs will be passed on to the homebuyer clients who are forced to have a minimal survey done.

Edited by erranta

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It doesn't work like that in Britain. Why do you think we are in the situation we are?

Haha, the Sun readership... the X-factor watching, Primark shopping, Ph.D in benefit scrounging majority of this sh1tty nation.

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Anyone who has got the Sun newspaper handy (I know) ought to look at the advert on the back.

It's for a company called Neglect Assist (www.neglectassist.com) who are offering to sue mortgage companies and surveyors for their 'negligence' in over-valuing new build flats.

My thoughts on this are that people invested in the hope of turning a profit, and that it's tough tits if they lose out. However, I also feel that anyone bringing prosecutions in this way is an interesting development in the whole ponzi scheme.

Thoughts of the forum would be very welcome.

...advertising the fact they were suckers who gambled and lost ....it happens every day ...why are they different...?... :rolleyes:

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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