Monday, October 25, 2010
Surveying firm overestimated the rent buyer was likely to get by 100%
Emmett Scullion, a self-employed builder from Portsmouth, bought an apartment in Cobham, Surrey, to augment his pension. The property was valued at its asking price of Â£352,950 in a valuation by local surveying firm Colleys, now part of Lloyds Bank. The survey said the flat could be let for Â£2,000 a month.