Professional Negligence
Kingsley Napley LLP
Full Credential Description
We - Financial & Secured Loan Negligence Specialists | Home | Services | Professional Negligence | Financial Advice Negligence | Secured Loans | Contact Solicitors Failure to Advise on a Secured Loan - Case Study Navigation: Professional Negligence > Financial Advice Negligence > Case Studies Publication Date: 2024 Practice Area: Professional Negligence Financial Advisory Failure: We represented a client who suffered substantial financial losses due to their solicitors' failure to provide adequate advice regarding a secured loan arrangement. This case demonstrates the critical importance of comprehensive legal guidance when entering into significant financial commitments. Secured Loan Transaction: Our client was entering into a secured loan arrangement that involved significant financial commitments and potential risks to their property and assets. They relied on their solicitors to provide comprehensive advice about the implications and risks involved. Risk Assessment Failures: Our investigation revealed that the solicitors did not conduct adequate risk assessment or provide sufficient warnings about the potential consequences of the secured loan arrangement, particularly regarding the security over the client's property. Financial Consequences: As a result of the inadequate legal advice, our client entered into a secured loan arrangement that was unsuitable for their circumstances and resulted in significant financial detriment when they encountered difficulties meeting the loan obligations. Professional Standards: Expert evidence confirmed that the level of advice provided fell well below the standards expected of competent solicitors advising on secured loan transactions, particularly regarding risk disclosure and suitability assessment. Property Risk: The inadequate advice resulted in our client's property being at risk through the security arrangements, creating financial exposure that could have been avoided with proper legal guidance and risk assessment.
Measurable Results
Successful professional negligence claim against solicitors who failed to provide adequate advice on secured loan arrangements. Settlement achieved compensating for financial losses and compromised position resulting from inadequate legal guidance on loan security and risk factors.