Tag: Solicitors Regulation Authority
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SRA Shine a Light on Inadequate Leasehold Reports on Title
The recent review of the conveyancing sector by the Solicitors Regulation Authority found that 23 percent of conveyancing firms are inadequately advising leasehold homebuyers. In what the SRA describes as a ‘dangerous assumption’, several firms said that they saw no reason to explain the difference between freehold and leasehold, assuming the client would already know…
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Law Firms Fume at Being Identified as 'Uninsurable'
Late on Friday the Law Society Gazette published an article entitled ‘Mass Cull on the High Street as 136 firms closed’ It’s opening paragraph stated ‘The Solicitors Regulation Authority confirmed today that 136 firms were forced to close because they could not secure professional indemnity insurance’ The headline and wording has now been somewhat softened,…
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Relief for conveyancers in mortgage fraud case – but expect a backlash
In the decision in Santander UK Plc v R.A. Legal Solicitors (a firm) [2013] EWHC 1380 (QB) Andrew Smith followed the appeal court’s decision in December 2012 in Nationwide Building Society v Davisons Solicitors that a law firm can be relieved of consequential liability for a breach of trust if it acts honestly and reasonably.…
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Conveyancing Solicitors probed by SRA over mortgage fraud
According to the Financial Times today over 100 law firms suspected of mortgage fraud were investigated in 2009 as part of a crackdown on rogue solicitors resulting in increased interventions. The figures just released by the Solicitors Regulation Authority reveals that the completed 106 investigations into firms where there was suspected misconduct in relation to…
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Jack Straw agrees meeting to discuss justice for Wolstenholmes victims
In the House of Commons today Cheadle MP Mark Hunter challenged the Secretary of State Jack Straw to reassure all those affected by the abrupt closure of Manchester Conveyancing Solicitors Wolstenholmes that their money and documents were safe. Jack Straw shared the concerns and agreed to meet Mark to discuss the issue. Mr Hunter told…