Colleys Surveyors Negligent Over Valuation

**Celestine** · 5th February 2012, 14:26:PM

Re: Colleys Surveyors Negligent Over Valuation

Welcome to Legal Beagles. :beagle:

If others out there have suffered as a result of this Surveyors, presumably they will google and find your thread here.

I'm not aware of any other LB'ers so far but hopefully others will come forward.

Best of luck with your case, keep us posted.

Cel x

**rangerover1** · 5th February 2012, 14:33:PM

Re: Colleys Surveyors Negligent Over Valuation

Thank you Cel. That was the idea as I am hoping to find others in the same situation.

**bluebottle** · 5th February 2012, 15:28:PM

Re: Colleys Surveyors Negligent Over Valuation

Do you know if Colleys are members of the Royal Institute of Chartered Surveyors (RICS) and if the surveyor who carried out the valuations on your properties is a member, too? He will have one of the following after his name -

ARICS - Associate of the Royal Institute of Chartered Surveyors
MRCIS - Member of the Royal Institute of Chartered Surveyors
FRCIS - Fellow of the Royal Institute of Chartered Surveyors

The reason I say this is because RICS have a dispute resolution service that might be helpful in your case. Their website address is Royal Institution of Chartered Surveyors. Click on the link "Dispute Resolution".

The fact that the surveyor who carried out the surveys on your properties is now on "gardening leave" makes me suspect he/she has cocked-up.

**bill hardie** · 16th February 2013, 17:45:PM

Re: Colleys Surveyors Negligent Over Valuation

Hi, I have just read your situation, regarding colleys, a similar situation is happening to us, please can you let us know the outcome of your case, many thanks bill and jan

**Tamara8** · 8th March 2013, 19:32:PM

Re: Colleys Surveyors Negligent Over Valuation

Originally posted by rangerover1 View Post

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 am in exactly the same boat as you only Colleys have negligently undervalued my property which led to me losing out very badly financially (it is quite a long story so I will not go into details right now!). I would be extremely interested to hear how you have got on over the last year with your legal action and what the result has been to date? I have not started my legal action yet so I would appreciate any advice you might be able to give me. I hope you have got the result you wanted as my dealings to date with Colleys have shown them to be very underhand and just down right liars!

**MissFM** · 8th March 2013, 19:46:PM

Re: Colleys Surveyors Negligent Over Valuation

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

**mygiveaway** · 19th March 2013, 20:00:PM

Re: Colleys Surveyors Negligent Over Valuation

Originally posted by Tamara8 View Post

I am in exactly the same boat as you only Colleys have negligently undervalued my property which led to me losing out very badly financially (it is quite a long story so I will not go into details right now!). I would be extremely interested to hear how you have got on over the last year with your legal action and what the result has been to date? I have not started my legal action yet so I would appreciate any advice you might be able to give me. I hope you have got the result you wanted as my dealings to date with Colleys have shown them to be very underhand and just down right liars!

This is what happened to me also. Have you an update from anyone else?

**Yellowman72** · 25th March 2013, 11:02:AM

Re: Colleys Surveyors Negligent Over Valuation

Same here! Undervalued the rental and we lost out .... they agreed to pay back our valuation fee but then failed to do it! Ombudsman told me this morning that because I have one residential property and one rental one (the latter which was valued by Colleys), they wont get involved! They only get involved if you own ONE property ... wondering what action to take next!

**honeyg** · 21st June 2013, 19:44:PM

Re: Colleys Surveyors Negligent Over Valuation

Originally posted by mygiveaway View Post

This is what happened to me also. Have you an update from anyone else?

This has happened to us...I googled because I was convinced this is some sort of company policy to de-value by a certain percentage based on the EA valuation...Our surveyor highlighted everything 'negative', did not take into account the positive features, and suggested a rental value of over 40% less that several agents in the area. We are taking this further as it has meant we are financially at a loss as a result. I am interesting the comment about the Ombudsman not wanting to get involved due to having two properties. We are in the process of trying to buy another and so hopefully that won't count against us as it has not gone through yet. How has everyone else gotten on with complaints - how were they resolved (or not)? Advice would be welcomed.

**Celestine** · 21st June 2013, 21:28:PM

Re: Colleys Surveyors Negligent Over Valuation

Colleys is the valuation and surveying service of Bank of Scotland plc part of Lloyds Banking Group.
Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.
Authorised and regulated by the Financial Services Authority.

:tinysmile_aha_t:

**holdo1** · 11th October 2013, 16:04:PM

Re: Colleys Surveyors Negligent Over Valuation

I'm feeling devastated today after the news I received earlier today. Support/advice would be really welcome.

Two months ago I had an independent RICS certified surveyor value my apartment between 120k - 130k, he gave 4 sale prices from comparable properties since 2011, one for 115k, two at 130k and one at 132k. In addition to that I purchased my property in May last year for 120k.

I am going through a private (selling to my friend) sale and on Monday a surveyor from Colleys came to value my apartment. My friend has said that the man has valued my property at 90k. He is as shocked and angry as I am as we both know this is outrageous. I've called my surveyor from two moths ago and left a message asking him if he can call me with regards to this. I hope that his professional pride kicks in and he is compelled to contact the Colleys representative directly.

I just don't know what to do.

**PlanB** · 11th October 2013, 16:20:PM

Re: Colleys Surveyors Negligent Over Valuation

Scullions vs. Colleys establishes the legal precedent. It's not the first time that Colleys have got it wrong

http://www.brunelpi.co.uk/news/item/...mark-case.html

I'm just rushing out but I'll try to find time to pop back over the weekend to explain and hopefully offer some practical suggestions if no one else helps you in the meantime

**PlanB** · 11th October 2013, 16:33:PM

Re: Colleys Surveyors Negligent Over Valuation

Originally posted by holdo1 View Post

I just don't know what to do.

There are several internet resources where you can see exactly what property sold for in the last three months. These will either support or rubbish that recent valuation. The information is based on street/location so will not help if you've got a windmill, barn or some other construction where comparables won't make sense. Even if your property is in a terrace and is identical to the others, the sold price won't always reflect the fact that you may have added a conservatory or loft extension. It's a good start though.

Here are two which base their figures on Land Registry facts. Enter your postcode and go with a radius of not more than 5 miles if you are in the country, but not more than a few streets if you are in a city.

http://www.nethouseprices.com/index....d-House-Prices

and

http://www.zoopla.co.uk/home-values/

**pablos79** · 15th October 2013, 16:03:PM

Re: Colleys Surveyors Negligent Over Valuation

I feel a slight sense of relief that I am not the only one at the end of a negligent valuation by Colleys. The surveyor's report contradicts itself by down valuing the property we are purchasing by £15k due to sale prices in the area on "comparable" properties and the alleged need for repair and upgrade. The surveyor states it needs immediate upgrade and repair but is in a condition to rent out or occupy and has used sale prices from Oct 2012. One of the properties used sold in May this year for £14950 more than the Oct 12 sale price.

We have disputed the valuation through out lenders and we should have a response from Colleys in the next day or so (its been 7 days with them already) although I don't hold out much hope thar they will change their mind. We are probably going to lose the sale of my property because of all this. Next route if its bad news is the RICS.

Colleys Surveyors Negligent Over Valuation

Colleys Surveyors Negligent Over Valuation

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