Colleys Surveyors Negligent Over Valuation

[pablos79]

Re: Colleys Surveyors Negligent Over Valuation

I am shocked, astounded and more than happy that Colleys have accepted our dispute on their original valuation. They have increased their valuation of the property by £7k which has now put me firmly in reach of the numbers needed to move forward with my purchase. They have not provided any justification or explanation of the original valuation or why they have increased it, but as far as I'm concerned right now, they've done it and I'm where I need to be. All we did was to provide a number of comparable properties with recent (last 6 months) sale prices and questioned the figure for repair/upgrade through our lenders.

So there is always a chance to challenge as long as you have good evidence to back up the appeal! I hope anyone who has found themselves in the same position as has success.

[PlanB]

Re: Colleys Surveyors Negligent Over Valuation

I am shocked, astounded and more than happy that Colleys have accepted our dispute on their original valuation. They have increased their valuation of the property by £7k which has now put me firmly in reach of the numbers needed to move forward with my purchase. They have not provided any justification or explanation of the original valuation or why they have increased it

That's excellent news :high5:

They will never give you a reason but I suspect that most surveyors down-value to protect themselves from being sued by the lender in the event of a mortgage repossession which could flag up over-lending.

You can always ask to see the surveyor's comparables for the original valuation so you can see for yourself what he relied upon.

[ethanb]

Re: Colleys Surveyors Negligent Over Valuation

Just wondering if there is anyone out there who has like me had a negligent mortgage valuation by Colley's surveyors. Myself & my partner own 4 properties and they were over valued in 2007 by 35% by Colleys on behalf of the Halifax & TMB. We have just had a retrospective valuation by a well respected RICS valuer which has confirmed our fears. We have written to Colley's who issued one letter which was also their 'Final Response'. Obviously, we know they are not going to admit liability when the total claim is hundreds of thousands. We have also heard on the grapevine recently that the surveyor in question (he valued all 4 of the properties) has been put on garden leave and we know there are many more claims against him. Another issue we have is that Colleys is owned by Halifax (HBOS) who also own TMB so we would class this as a conflict of interest. We are not going to back down on this matter, but would love to hear from anyone who is in the same situation. Please note we don't require advice on this as it is currently being dealt with by our legal adviser, we would be really interested in hearing from anyone in the same situation.

Dear All,

I have just discovered this thread whilst doing some research. I Believe that my flat was over valued in 2007.

If there is anyone who had any success with Colleys please can you contact me. Unfortunately, the valued my flat assuming that it had 104 years lease without seeing the lease. My solicitors should have picked this up but the SRA intervened and he was struck off.

I have only discovered the terms on my lease last year when I put the property on the market, sadly I cannot find a buyer.

Any help would be greatly appreciated.

[ethanb]

Re: Colleys Surveyors Negligent Over Valuation

Just wondering if there is anyone out there who has like me had a negligent mortgage valuation by Colley's surveyors. Myself & my partner own 4 properties and they were over valued in 2007 by 35% by Colleys on behalf of the Halifax & TMB. We have just had a retrospective valuation by a well respected RICS valuer which has confirmed our fears. We have written to Colley's who issued one letter which was also their 'Final Response'. Obviously, we know they are not going to admit liability when the total claim is hundreds of thousands. We have also heard on the grapevine recently that the surveyor in question (he valued all 4 of the properties) has been put on garden leave and we know there are many more claims against him. Another issue we have is that Colleys is owned by Halifax (HBOS) who also own TMB so we would class this as a conflict of interest. We are not going to back down on this matter, but would love to hear from anyone who is in the same situation. Please note we don't require advice on this as it is currently being dealt with by our legal adviser, we would be really interested in hearing from anyone in the same situation.

Dear All,

I have just discovered this thread whilst doing some research. I believe that my flat was over valued in 2007.

If there is anyone who had success with Colleys please can you contact me. Unfortunately, they valued my flat assuming that it had 104 years lease without seeing the lease. My solicitors should have picked this up but the SRA intervened and he was struck off.

I have only discovered the terms on my lease last year when I put the property on the market, sadly I cannot find a buyer.

Any help would be greatly appreciated.

[pjarvis49]

Re: Colleys Surveyors Negligent Over Valuation

Just wondering if there is anyone out there who has like me had a negligent mortgage valuation by Colley's surveyors. Myself & my partner own 4 properties and they were over valued in 2007 by 35% by Colleys on behalf of the Halifax & TMB. We have just had a retrospective valuation by a well respected RICS valuer which has confirmed our fears. We have written to Colley's who issued one letter which was also their 'Final Response'. Obviously, we know they are not going to admit liability when the total claim is hundreds of thousands. We have also heard on the grapevine recently that the surveyor in question (he valued all 4 of the properties) has been put on garden leave and we know there are many more claims against him. Another issue we have is that Colleys is owned by Halifax (HBOS) who also own TMB so we would class this as a conflict of interest. We are not going to back down on this matter, but would love to hear from anyone who is in the same situation. Please note we don't require advice on this as it is currently being dealt with by our legal adviser, we would be really interested in hearing from anyone in the same situation.

I used this firm,never again.I had a home buyers survey which was not put together well.There was subsidence and cracks including uplifting floors,even had to have the gas fire taken out because of carbon fumes escaping. Don't even bother contacting their property Ombudsman ,they take sides and are a waste of time.Solicitors who will deal with it charge you crazy rates

[Crazy council]

Re: Colleys Surveyors Negligent Over Valuation

Hi

I had to fight a valuation myself ( 2009 - 12 ) , and i also learnt some things on the way tht may be usefull to anyone in this position, legislation may have changed, so i may be wrong now.

1. A surveyor is classed as an expert, and works for both parties, regardless of who employees them.

This was usfull when the surveyors firm, tried to withhold items from FOI request. I got reports, nots and all correspondence. I was also allowed to ask questions on certan interpritations from them, in the report, and to what extent they checked what they were stating.

2. If you get a surveyor to state any different, your supposed to send that to the original surveyor for there consideration.

3. if your not satisfied with there response, then use the
[MENTION=37303]MissFM[/MENTION]

http://www.rics.org/uk/about-rics/wh...ion-services-/ As a first stop.

I will just add, i was a property manager for many years, also involved in sales,, Getting agreed valuations for any period 2006-8 ( market peek and collapse ) to match up, is going to be hard. It all depends on what data set you start with. Anything after 2009 though, a lot eayer to prove incorrect valuations on.

[armada-jon]

Re: Colleys Surveyors Negligent Over Valuation

Please contact me as soon as possible
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[armada-jon]

Re: Colleys Surveyors Negligent Over Valuation

I am looking for anyone who has any kind of dispute with a valuation from Colleys , part of Lloyds banking Group.

I habe are had a negligent valuation and am looking for anyone else that has had a problem.

Also so anyone where the valuer has been put on 'gardening leave'



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Hello

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Hello Amethyst

Have be you removed list or edited it. ?

[Amethyst]

Re: Colleys Surveyors Negligent Over Valuation

Just removed your personal contact details xx

What was negligent about your valuation ?

And was your valuer put on 'gardening leave' after you'd complained about the valuation ?

[laherizoeb]

Re: Colleys Surveyors Negligent Over Valuation

Hi All, i will join in your family. My story is not far from you guys. I rent my family members property and was planning to buy it so i applied for mortgage in halifax. Everything got approved and then Colleys Surveyor came for their Masterpeice work. They valued property for 118,000 (on 4th Aug 2015) but surprisingly my family member got property valued on 20th Aug 2014 and it was full buyers report (bldg survey).. they came upto 135000..... i dont understand how can value go that down (cmon 17000) infact the property value were increased since last year.... i havent recieved report yet but does anyone know how to tackle this situation.

Regards

[rangerover1]

Re: Colleys Surveyors Negligent Over Valuation

Still managed to get nowhere during the formal complaints process with Halifax, Colleys, Ombudsman and RICS which is very frustrating. I have been told by all of the above that I should have forked out for my own valuation to rely on, disgrace when you are paying £500 already. Something else I cannot get my head around is the Halifax and Colleys are part of the same group of companies which in my mind is a conflict of interest. This has taken over my life now for 5 years but I won't give up. My next thought is for a class action against Colleys, this firm certainly has a lot to answer for. BTW my valuer was on garden leave and now no longer works for Colleys..... Mmmmm I wonder why? that I will never know. If anyone is interested in looking into a class action please let me know.

[Guest]

Re: Colleys Surveyors Negligent Over Valuation

In 2006 Colleys valued the apartment that was sold to me via an investment company at almost 100% over what it was worth. The TMB offer letter states a value of £92 500 but 7 months prior the property sold at £48 000. I was walked down the garden path and paying very dearly for it now. I have been holding this flat up financially for the last 10 years, to the tune of over £12 000. I have had enough so started the complaints process in Feb 2016 I have complained to TMB, Colleys who have both sent final response letters claiming no responsibility. RICS were the same claiming they cannot question a professionals judgement. Its a joke. I am now with the Financial Ombudsman. The investment company vanished after I took possession of the property in 2006 and in 2008 the broker Global Reach Finance went into administration and solicitor SFM legal services was stuck off for misconduct. I am left with a mortgage of £80 000 with a flat not worth £60 000 having to pay a shortfall on mortgage every month. All in all and complete nightmare.

[Dollydog]

Re: Colleys Surveyors Negligent Over Valuation

Hi ! Has anybody got anywhere with over value surveyor reports, releasing 100% to much mortgage. Mine was a house turned into a flat. Think surveyor looked at values in road which was pretty much all houses and valued it the same, but for both flats. Causing my ex partners and his business partner to own two flats worth half there value. This happened in June 2007, my daughters have inherited this negative excuity. Can I sue the surveyor's? Colleys ? Birmingham Midshires who mortgage with says nothing to do with us, shifting the blame!!,, help?

[sparkey]

Re: Colleys Surveyors Negligent Over Valuation

Hi i have just found myself in the same situation i have 8 properties that i purchased between 2009 to 2010 all my mortgages are with Birmingham Midshires and all were over valued by Colleys.
I purchased all the properties through a property investment company and i have just found out that the owner has been imprisoned for fraud i contacted colleys and filed a complaint and i am now going to speek with a solicitor but i was just wondering if anyone has had any luck with there situations

[Minnie&Boo]

We have had problems with Colley's valuing our property as 'Zero Val'!!!???? How is that even possible??? We own an ex-local authority property, a high rise of concrete panel construction (Bison Panel Wall Frame System). Colley's are blighting this and every other property of a similar construction. We are looking to make a case against Colley's (who now apparently no longer exist) or any ensuing valuers who repeat this, along the lines of a Group Litigation Order. Is there a hungry young Legal Beagle out there who wants to make their name by helping potentially thousands of people across the country who want to buy their own property, but are precluded by this?