Lender Claims
Ashfords Lender Claims Group advises lenders on repossession of property and claims against professional defendants arising out of property transactions including real estate and shipping. We also advise lenders in respect of allegations of fraud, and a number of our lawyers acted for lenders in the managed mortgage fraud litigation in the later 1990s.
We understand the challenges that lenders face in maximising recoveries and we can work with you to deliver realistic and cost effective solutions.
Work handled includes:
- Negligent conveyancing - including failure to report on title and third party interests;
- Negligent advice regarding the taking and registration of security;
- Valuer negligence, including negligent over valuation and breach of duty to investigate;
- Solicitors breach of fiduciary duty and breach of trust;
- Fraudulent lending applications, including failure to identify back-to-back transactions and sub-sales, direct paid deposits and other badges of fraud; and
- Syndication of loans.
Following identification of potential claims we can,
- Advise on the merits of specific claims;
- Provide an assessment of damages, including SAAMCO, Contributory Negligence issues including underwriting/lending criteria, LTV and self certification; and
- Act for you in bringing claims in respect of negligent or fraudulent transactions.
Delivery based Focus
We recognise the need to focus on maximising recoveries for lenders and we can advise on cost efficient and timely solutions, including managed mediation or multiple claims, direct negotiation and other forms of ADR.
Recent work undertaken includes:
- Advising a leading High Street Bank on connected claims against a firm of surveyors, valued in excess of £1 million;
- Advising a lender on recovery of a shipping asset against which an advance had been made;
- Acting for a well known lender in bringing a claim against solicitors who failed to advise on the existence of a headlease containing onerous covenants; and
- Bringing a claim against a bank's former solicitors for failing to properly advise on the effectiveness of an unregistered charge.
