Is There a Conflict Of Interest Here?

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    Is There a Conflict Of Interest Here?

    Recently purchased an auction property and the lender I am obtaining bridging finance from requires a solicitor to represent them from their panel.

    What I wanted to know is whether it is okay for the lenders solicitor to also represent me the purchaser?

    Someone mentioned to me that there is a possible conflict of interest here and that it is not a good idea..

    However I would has thought that this would be a good thing, in terms of speeding up the entire process..

    Could someone shed some light on who is 'right?'


    #2
    No conflict, this happens a lot.

    Comment


      #3
      The main point is that both purchaser and lender want the same thing: a property with a good and marketable title. A conflict of interest only arises if the lawyer finds something he does not like and the purchaser instructs him not to tell the lender. If that happens and the purchaser persists in the instruction the lawyer must cease to act.

      Comment


        #4
        Thanks guys

        Comment

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          Lawcruncher
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