Conveyancing negligence can lead to significant financial losses and emotional distress for those involved in property transactions. If you have been a victim of conveyancing negligence, you may be entitled to claim compensation. The amount you can claim varies depending on several factors, including the nature and extent of the negligence, the financial losses incurred, and any additional damages suffered.
What is conveyancing negligence?
Conveyancing negligence occurs when a conveyancer or solicitor handling a property transaction fails to provide the standard of care and competence expected of a reasonable professional in their field. This negligence can lead to significant financial losses, legal complications, and emotional distress for their clients.
Factors affecting compensation amounts
1. Financial losses
The primary component of a conveyancing negligence claim is the financial loss suffered due to the negligence. This can include:
- Overpayment for property: If inaccurate valuations led to overpaying for the property, the difference between the paid price and the actual market value can be claimed.
- Cost of repairs: If the conveyancer failed to identify structural issues or other defects, the cost of necessary repairs can be included in the claim.
- Additional expenses: Any extra costs incurred due to delays or errors, such as additional legal fees, mortgage interest, or alternative accommodation costs.
2. Legal and professional fees
Compensation can also cover the legal and professional fees associated with rectifying the mistakes made due to conveyancing negligence. This includes the cost of hiring new professionals to resolve issues caused by the negligent conveyancer.
3. Emotional distress
In some cases, compensation for emotional distress and inconvenience caused by conveyancing negligence can also be claimed. This is particularly relevant if the negligence led to significant disruption or stress, such as delays in moving into a new home or prolonged legal disputes.
4. Interest on financial losses
Interest may be awarded on the financial losses incurred, calculated from the date the loss was suffered until the date of the compensation award. This ensures that the claimant is fully compensated for the time they were out of pocket due to the negligence.
Example compensation amounts
While compensation amounts vary widely based on individual circumstances, here are some illustrative examples:
- Minor errors: Claims for minor errors or delays might result in compensation ranging from a few hundred to a few thousand pounds.
- Significant financial loss: If the negligence led to substantial financial loss, such as overpaying for a property or major repair costs, compensation could range from £10,000 to £50,000 or more.
- Severe cases: In cases where negligence led to severe financial and emotional impacts, such as losing a property or significant legal disputes, compensation can exceed £100,000.
Steps to making a claim
1. Consult a specialist solicitor: Seek advice from a solicitor experienced in professional negligence claims. They can assess the strength of your case and guide you through the process.
2. Gather evidence: Collect all relevant documents, including contracts, correspondence, valuations, and receipts for expenses incurred due to the negligence.
3. File a complaint: Initially, you may need to file a formal complaint with the conveyancer’s firm or their regulatory body. If this does not resolve the issue, legal action may be necessary.
4. Negotiate a settlement: Many claims are settled through negotiation or mediation, avoiding the need for court proceedings.
5. Court proceedings: If a settlement cannot be reached, your solicitor will help you file a claim in court and represent you throughout the process.
Contact us
At Stephensons, we specialise in handling conveyancing negligence claims. Our experienced professional negligence team is here to help you navigate the complexities of your claim and secure the compensation you deserve. Contact us today on 0161 696 6178 or complete our online enquiry form and we will be in touch as soon as possible.
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