Britannia Building Society is to launch a special unit to seek compensation from law firms and surveyors in relation to negligent advice on property deals.
News of the launch comes as Eversheds faces a claim from the Bank of Ireland relating to advice said to be negligent that it gave on a property deal – the latest example of the growing trend for claims arising from fraudulent property transactions. Britannia’s loss recovery unit, which will go live in April, will investigate law firms and surveyors working on transactions where its lending arm, Platform, suffers substantial losses following the repossession and sale of a property or portfolio of properties.
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