Halifax refunds couple after PM Property Law collapse triggers double mortgage payments
Updated
Updated · BBC.com · Apr 30
Halifax refunds couple after PM Property Law collapse triggers double mortgage payments
3 articles · Updated · BBC.com · Apr 30
Gabriella and Kurtiss Smith of Barry, Wales, borrowed £6,000 after being asked to pay about £2,000 a month to both Halifax and Nationwide.
Halifax said it had closed their mortgage account, refunded the extra payments and would make an additional payment for distress after failing to include them in its support process sooner.
PM Law Group's collapse has affected hundreds of clients, with the SRA investigating suspected fraud involving nearly £40m in client funds and South Yorkshire Police reviewing a referral.
After a £40M legal fraud, is the system meant to protect homebuyers' money fundamentally broken?
Could modern technology have prevented the £40M law firm collapse that regulators missed?