UK: LAW FIRMS BEING SUED BY BRADFORD & BINGLEY

Article Abstract:

A GB[pound] 30mn claim is being brought against a thousand law firms by the Bradford & Bingley Building Society who it accuses of being negligent in advising on mortgages for cheap housing for nurses and teachers. It applies to those cases where the teacher, nurse or other low-paid professional worker purchases a property with an " affordable " mortgage plan conferring on them joint ownership with a housing association. The building society claims that the law firms acting for both buyer and mortgage company did not gain consent from the housing association to allow it to buy back the property if the buyer could not keep up his mortgage payments.

Banking industry, Brief Article, Law firms, Bradford and Bingley Building Society

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High-flying solicitor stole from his client to go and pick flowers

Article Abstract:

Solicitor Alastair Liddle has been jailed for 12 months for embezzling 18,000 pounds sterling of a client's money. He then disappeared and created a new identity for himself.

Attorneys, Embezzlement, Liddle, Alastair

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Why green dreams needn't cost the earth

Article Abstract:

Many mortgage lenders in the UK are unwilling to lend money for the purchase or refurbishment of unusual properties. However, the Ecology Building Society is willing to advance up to 2.5 times an applicant's gross basic income to buy a house that will produce ecological benefits. This society will advance a maximum on residential properties of 80% of valuation at a base rate of 7.75%. Norwich and Peterborough Building Society has a special 'green' mortgage for properties with a high energy-efficiency rating, and will also lend up to 80% of the cost of land to self-builders.

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