Post by sapphire on Dec 17, 2017 18:50:55 GMT
One of the P2P platforms sometimes does not seek an external professional valuation for property loans it considers to be of a 'low LTV', and instead does its own valuation based on online and other data.
In such a case, where following a default and repossession it transpires that the property has a number of significant issues (defects etc.) and so the sale results in a loss, can the platform be held liable for these as they undertook the (erroneous inflated) valuation?
Have there been any such real life cases, and if so what was the outcome?
In such a case, where following a default and repossession it transpires that the property has a number of significant issues (defects etc.) and so the sale results in a loss, can the platform be held liable for these as they undertook the (erroneous inflated) valuation?
Have there been any such real life cases, and if so what was the outcome?