Addleshaw Goddard

UK 200 2013 position: 23

Solicitors’ firm held to be equally liable with surveyor for negligent mortgage valuation

E.Surv (the surveyors) claimed contribution under the Civil Liability (Contribution) Act 1978 from Goldsmith Williams (the solicitors), in respect of damages of £200,000 paid to a mortgage lender in settlement of its claim for negligent over-valuation of a property. The surveyors’ case was that the solicitors had failed to bring to the attention of the lender the fact that (a) the borrower had been registered as proprietor of the property for less than six months and (b) the price he had paid for it, as disclosed on the office copy entries, £390,000, was significantly lower than the surveyors’ valuation in the mortgage offer, £725,000…

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    The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.

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Overview

Milton Gate
60 Chiswell Street
London
EC1Y 4AG
UK
http://www.addleshawgoddard.com

Turnover (£m): 166.50
No. of Lawyers: 592

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