Conveyancing firm shut down by SRA to ‘protect the interests of clients’
Summary
The Solicitors Regulation Authority has intervened to close Gowlings Solicitors Limited, a Preston-based conveyancing and family law firm, citing the need to protect clients and beneficiaries. The action follows a prior rebuke over a conveyancing undertaking relating to mortgage redemption, where the firm failed to obtain a redemption statement and the sale proceeds were insufficient to clear the mortgage in full.
Why it matters
This is relevant to residential property surveyors because it highlights the risks around conveyancing undertakings, mortgage redemption, and transaction completion. Surveyors involved in property sales should be aware that solicitor intervention can disrupt completions and affect client expectations and timelines.
Key points
- SRA closed Gowlings Solicitors Limited to protect clients and beneficiaries.
- The firm had previously been rebuked for failing to comply with a conveyancing undertaking on time.
- The issue involved a promise to redeem a mortgage on or before completion without first obtaining a redemption statement.
- The SRA said the firm’s actions were reckless and ordered it to pay £600 costs.
- Lester Aldridge LLP has been appointed as the intervening agent and client files and funds have been removed or frozen.
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