There were 25 commercial or residential cases against surveyors or estate agents in 2009, compared to just one such case in the five years previous.

City law firm Reynolds Porter Chamberlain (RPC) claim that losses by banks in the UK property market have run into billions of pounds since the credit crisis reared its ugly head and RPC partner Alexandra Anderson said;

“This has put a lot of pressure on banks and investors to pursue any option open to them to recover their losses, including launching a negligence claim against the surveyor who valued the collateral for the loan.”

Obviously banks and financial institutions should not accept any fault in their handling of funding such purchases and will always look to offload the blame elsewhere.

Some of the cases bought against surveyors and estate agents include;

• They negligently overvalued commercial premises such as shopping centres that subsequently collapsed in value because tenants became insolvent in the recession.

• They negligently overvalued residential property development sites which plunged in value because of falling house prices and the glut of similar new build that was erected in the housing boom, particularly in cities such as Manchester and Leeds.

• They negligently underestimated the cost of putting a development project on hold.

• They negligently valued a property that was subject to a fraud that has been exposed because of falling prices in the recession.

Gordon Beddoes and William Cooksey had brought their case to Newcastle County court in March this year, claiming against Vintners Defence Systems and Vintners Armstrong. Both men suffer from breathing difficulties although asbestosis has been deemed responsible for as little as 1% of their problem.

Both men won their cases and at a separate hearing in May were awarded compensation, Beddoes £11,375 and Cooksey £13,612.

UK law firm  Keoghs has predicted a ’stampede’ from claimants following the landmark victory. They predict higher compensation payouts for more serious cases of asbestosis.