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Mortgage brokers must up fight against bogus solicitors

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  • 25/04/2013
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Mortgage brokers must up fight against bogus solicitors
Mortgage brokers have a key role to play in protecting clients from dodgy solicitors, according to legal boss Eddie Goldsmith.

Goldsmith, senior partner at Goldsmith Williams, said that a recent BBC investigation had highlighted the risks posed by fraudsters setting up fake law firms to take advantage of clients.

“This is nothing new actually,” he said, speaking of an incident where a purchaser lost money after transferring it to a bogus solicitor.

“Those working in the industry have been aware of this risk and proactively managing it for some time.”

He said that mortgage advisers should check that solicitors’ details are correct on the Law Society’s roll of solicitors or the Council for Licensed Conveyancers website.

“Checking early means that, if any information emerges that causes us concern, we have sufficient time to thoroughly investigate and satisfy ourselves that there is no fraud taking place or take the appropriate action to address our concerns.

“As brokers undertake due diligence within their law firm selection process, they are best placed to offer reassurance to their clients and recommend reputable firms of solicitors to purchasers.”

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