Solicitors' Mortgage Investments Recovery
We act for investors who have invested their money with Solicitor's First Mortgage Investment Schemes. In this developing area, we are active in representing the interests of the investors in recovering losses suffered if the borrowers of the investment funds fail to meet their repayment obligations.
Often, the investors have been told that:
- the cost of recovering the investment will outweigh any return, or
- they must wait until the security property has been sold before any action can be taken against the borrower or against any other party whose negligence has caused the loss
Also, investors are often not told:
- it is possible to take legal action before the security property is sold
- they may well have rights of recovery against the Valuer, and the Solicitor, in addition to any rights they may have against the borrower
- they should obtain independant advice from another solicitor immediately it becomes apparent that their investment is falling into default
- they should not be asking the solicitor who made the investment for them to be the person who recovers their money
- they should NOT wait until the borrower has been bankrupted, and their security sold, before considering alternate recovery options
While it is often correct that legal action is expensive, our focus is on co-ordinating action by several affected investors into a 'class action', which permits the cost of the recovery action to be shared, reducing the burden upon each individual investor.
Contact our litigation team. We are at the forefront of this developing area of law.