Solicitors obligations when acting for a secured loan lender

[cul8rm8e]

Can anyone shine some light on the obligations of a solicitor if they were acting for a client who was to provide a secured loan over a borrowers property.

What are the implications if it were found that the lender information from the Office of fair Trading (OFT) and information provided from the Financial Conduct Authority (FCA) that the lender did not hold the correct Licence to lend money, lets say they held a Licence that of a Credit Brokerage ONLY.

thanks

[meellis]

Re: Solicitors obligations when acting for a secured loan lender

Like all of these people they should be liable but they will find a way out of liability. Its like paying an accountant a lot of money to do your tax for you as soon as the tax man investigates you find out you are responsible for what you thought you were paying them for.

[cul8rm8e]

Re: Solicitors obligations when acting for a secured loan lender

All sorted after making formal complaint to the lenders solicitor.

Time for the SLCC to take over!