Mortgage Advisor Liability: What to Do?

Questioner

Our mortgage advisor incorrectly informed us about the transfer tax amount. The lender also checked and approved this amount. However, the notary's statement, a week before the deed was executed, revealed that this amount was considerably higher than the advisor's statement had shown. Can we hold the mortgage advisor liable for breaching their duty of care?

Questioner

The advisor must thoroughly investigate whether you are able to meet your financial obligations. If this is the case after it turns out that the transfer tax was calculated incorrectly or if there was an error, the advisor is not necessarily liable. However, if the transfer tax is crucial to the transfer and determines whether the deed must be executed, then liability may arise. In short, the extent to which the advisor is liable depends on the agreements and the facts. If you'd like to discuss this further, please feel free to contact me. Just click the link next to this answer.