Call on 0844 2722322

SRA Lawyer - Green Card Warning

SRA Lawyer: Specialist barrister advising on the’ green card’ warning on mortgage fraud compliance, investigations and SDT hearings. Call 0844 2722322.

Many solicitors need an SRA Lawyer following the collapse of the housing market. The SRA have investigated a number of cases where the police have discovered widespread mortgage fraud and charged, not only the property developers or dealers involved, but also their solicitors. There are many heads of charge in these case, but the theme that runs through them tends to be an allegation of acting in breach of the guidance set out in the Law Society ‘Green Card’ warning on property fraud.

The ‘tell tale’ signs of a fraudulent transaction are said to be:

  • Fraudulent buyers or fictitious solicitors.
  • Unusual instructions.
  • Misrepresentation of the purchase price.
  • Direct payment of a deposit.
  • Incomplete documentation.
  • Changes in the purchase price.
  • Unusual transactions such as client using an alias or reselling at a substantial profit without explanation.

The guidance sets out a number of steps that a conveyancing solicitor should follow, so that they are not inadvertently ‘used’ by unscrupulous clients. Conveyancers do not expect to need an SRA lawyer, but the number of cases that are being investigated following complaints from mortgage companies has significantly increased.

For advice or an informal discussion on SRA law issues call 0844 2722322.

Copyright © 2019. All rights reserved. Design & Development by ATB Creative