What happens if solicitor goes bust?

Kazza62

Before you instruct a solicitor, always check with the Law Society that the solicitor has his/her Practising Certificate. You can also do a solicitor check on the Law Society website. Alternatively, if you are dealing with a Licensed Conveyancer, you can check with the Council for Licensed Conveyancers (CLC) (Regulatory Body) whether the Licensed Conveyancer is licensed. You can also do this via the CLC website.

alisonp_2

LeonandAlison"This is one benefit of going with solicitors over Conveyancing firms"


The above poster is confused.

Both solicitors and licenced Conveyancing firms are very strictly governed by their regulatory bodies and all firms can be checked out via the Law Society or CLC as Kazza62 correctly points out.

Also, as Robert Sterling says, the clients' money never belongs to the Solicitor or Licenced Conveyancer - clients' monies are always held in a Client account.

Before instructing a firm all clients should check the Solicitors/Licensed Conveyancers' firm out via the governing body's website for their own peace of mind.

SolicitorMidlands

Don't worry - the SRA appoint people to take over the firm and sort out the money if it goes bust. You would have to be incredibly unlucky for that to happen.