Loading...

FAQ

Important: The FAQs below were written and published before the introduction of the SRA Handbook on 6 October 2011, and may refer to regulatory material that is no longer in effect. Although they may still be relevant, these FAQs have not yet been reviewed in light of the wide-ranging regulatory changes implemented on 6 October. They will be reviewed and updated (or archived) in due course.

A client is lending £5,000 to a friend and wants to secure it with a second charge on the friend's property. The friend won't instruct a solicitor. Can I act for both parties?

No.

This is an individual mortgage at arm's length (rule 3.17(1) and rule 3.16(2)).

You can only act on an individual mortgage if it is not at arm's length (rule 3.16 and guidance note 72) and there is no conflict of interests.

Click a star to rate this answer  Average 0 out of 5