Property Lending Expert Witness

Building and Construction Expert Witness

The credit crunch of 2008 has had a significant effect on the property market with the reduction of values and also a much more restrictive approach to the provision of credit. In a bull market many of the problems and lower controls by financing institutions are absorbed by the ability to trade out of a situation at a profit. However in recent years, the bear market, particularly in commercial property, has resulted in the failing leading to loss.

At Expert Evidence we have significant experience in dealing with many of the cases that have been brought to the courts dealing with property lending and the mortgage market. Lenders have sought redress from valuers and solicitors where property lending has gone into default and we have provided advice and evidence in a multitude of situations. Most importantly we have advised both lending institutions, whether they be banks, building societies and specialist lenders as well as the valuers and solicitors who were involved in the transactions. In many cases the latter are represented by their Professional Indemnity insurers and we have accepted instructions where actions are brought by them on behalf of their insured parties.

The cases have many different forms, we have dealt with many of the standard situations that arise but also have expertise in some of the more specialised ones such as:

  • In some situations the original application was a result of a fraud. We have investigated a number of situations where this has been alleged and advised on whether this would have been evident to the various involved parties to a transaction.
  • One area of major contribution to the conduct of a case has been the ability to comment on the lending policies and procedures of the financing institution and whether these were appropriate or in keeping with industry practice.
  • During the period 2000-2008, some mortgages were made available with a multi-currency facility. This had the effect of converting the borrowed amount into a low interest rate currency so as to minimise the interest cost. However it also brought up a currency mismatch in the amount borrowed relative to the value of the property. During 2008 many of the low interest rate currencies appreciated substantially thereby meaning that loan to value ratios often became unacceptable and in some cases led to foreclosure by the lending institution causing substantial losses.

We have experience in dealing with all the above.

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