Lady Mayer’s son Christian Noble is suing Coutts bank for damages in respect of a negligent valuation of his flat at 6 Lewes Crescent, Brighton.
Noble bought the flat in October 1994, with the aid of a mortgage from Coutts and a guarantee from his mother, after the surveyor sent by the bank to value the property put it at £117,000. Unknown to Noble, the surveyor had gone bankrupt and his professional indemnity insurance had lapsed in August 1994.
When the flat turned out to be worth less than the valuation, because of severe structural and decorative defects, Noble found that his claim against the surveyor was of little value. He accordingly sued the bank, accusing it of negligence in failing to inform him of the surveyors situation and failing to obtain a new valuation from another surveyor.
Had he known of the insolvency and lack of insurance, he claims he would have obtained an alternative valuation before deciding whether or not to buy the flat.
Now he is seeking to recover £20,000 for the loss in value of his claim against the surveyor, £6,560 in wasted legal fees, interest of just over £20,000 over the three years during which he owned the flat and £20,000 for the cost of repairing the defects.
PLS News 26/6/00
