Savills Calls HSBC Loans Reckless in Row of Real Estate Appraisals


By Joanne Faulkner (April 1, 2021, 4:59 p.m. BST) – Estate agent Savills argued that HSBC acted recklessly and in violation of its own lending policies after the bank blamed its appraisals of properties in London for having encouraged risky lending decisions.

Savills argued in the High Court defense on March 29 that he could not be blamed for the losses allegedly suffered by HSBC UK Bank PLC after being exposed for over £ 136million ($ 188million) to a client and to entities related to him.

The real estate agent was hired by HSBC to provide appraisals on the properties that were used as collateral for the loan. HSBC’s January lawsuit seeks damages from Savills for …

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