Mortgage Lender Risks

Conveyancers sometimes forget that lenders are in business to make money and they will repossess a property if the borrower fails to keep up their repayments. We advise our clients of this risk – but what about the conveyancer?What is the position of the conveyancer if the lender repossesses and sells at a loss? Will they have a go at the conveyancer? You bet they will!  We must ensure that our files are Handbook compliant. And there are many people doing conveyancing work now who have not come across negative equity.And what if the lender requests your conveyancing file?Lorraine and Stu discuss all of these matters.Has a lender requested your file? How did you deal with it?Remember, this is just a chat and our opinions, not advice!Find our podcasts on YouTube,  Spotify and Apple Podcasts.http://www.adaptlaw.co.uk/​http://www.pcslegal.co.uk/