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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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Hello I purchased a renovated flat in 2008 the flats where

Customer Question

Hello I purchased a renovated flat in 2008 the flats where part of a 116 units in Ipswich, ip1 1na and being sold by developer,the developer offered free solicitor fees and had an appointed estate agents,at the time the housing market was on decline and the single bedroom flat was up for 93000 the original mortgage I tried with Lloyds the said had failed and presented me with one from Birmingham mindshare,which I proceeded with mortgage 91,000 valuation from mortgage company 90 to 100,000 so I thought good deal having come form chelmsford more expensive area,only looking last night for house prices on my post code found out my property worth almost 25000 pound less I have paid so over the odds, with obviously bad advice from estate agents and solicitor at the time and mortgage valuation!.the only property sold anywhere near that price through land register was a flat bought for 109,000 owned by developer which I assume to inflate prices at time.I feel totally ripped of because being first time buyer and having everything in house I wasn'. Advised correct market prices at time of purchase.I would really appreciate if you could provide any insight to how I can elevat. Some of the massive negative equity thanks. Sean
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

Did you ever get your own survey done please?

JACUSTOMER-uuv9zxz9- :

No I'm afraid being a first time buyer I was a little nieve,I put my trust in estate agents appointed and solicitor appointed,at the time the housing market was not great . Was given a list of mortgages available and the one I wanted they said was withdrawn so was really only left with little choice at the time I had good credit rating and on approx 30,000 pa

Alex Watts :

Sadly it is a matter for you whether or not you accept any valuation and indeed you had your own option of getting a valuation or home buyers report and you did not.

Alex Watts :

Therefore you are unlikely to be able to succeed in a claim against them.

Alex Watts :

In any event if you are claiming negligence you have 3 years from the negligent act to bring a claim as per the Limitation Act and as such you would be out of time.

Alex Watts :

I am sorry if this is not the answer you want and certainly not the answer I want to give, but I have a duty to be honest.

Alex Watts :

Can I clarify anything for you about this today please?

JACUSTOMER-uuv9zxz9- :

Thanks for answer Was taken in by three untrustworthy parties all working for the same cause. had I had not been first time buyer or had on hand advice from house owners genuine estate agents them im sure . Wouldn't be in negative equity for next ten years

Alex Watts :

Yes indeed and I am sorry.

Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.

Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.

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