Written by Lorraine Imhoff
When you instruct a solicitor to represent your interests in buying or selling a property, you are placing your trust in a qualified professional.
The Solicitor Regulation Authority (SRA) governs the conduct of solicitors with a set of rules that incorporate both ethical and professional standards that all solicitors must comply with.
Solicitors must uphold the rule of law, offer independent advice and act with integrity at all times.
Instructing a Solicitor gives you absolute assurance over the safety of your money. Solicitors must take out professional indemnity policy to protect client interests.
Additionally, all solicitors contribute to a central fund known as the ‘SRA Compensation Fund’ that guarantees financial protection to clients in the event of negligence, misappropriation of funds or SRA intervention.
Instructing a solicitor gives clients the complete peace of mind that in the unlikely event of anything going wrong, their funds are protected.
For more information on how the SRA regulate solicitors see: http://www.sra.org.uk/consumers/sra-regulate/sra-regulate.page