A solicitor working in a busy conveyancing department has received an email from a client who is in the process of buying a residential property.
The client has informed the solicitor that they have just received a copy of their mortgage offer and that the solicitor's firm will receive their copy the following day. The client has also requested the solicitor's advice on whether the interest rate and mortgage product suit them. They have mentioned that they do not know much about finance and would appreciate the solicitor's professional opinion. Finally, the client has asked the solicitor if they think they are getting a good deal.
How should the solicitor respond to this email?
A solicitor working in a busy conveyancing department has received an email from a client who is in the process of buying a residential property.
The client has informed the solicitor that they have just received a copy of their mortgage offer and that the solicitor's firm will receive their copy the following day. The client has also requested the solicitor's advice on whether the interest rate and mortgage product suit them. They have mentioned that they do not know much about finance and would appreciate the solicitor's professional opinion. Finally, the client has asked the solicitor if they think they are getting a good deal.
How should the solicitor respond to this email?
They should email the client promptly, declining to answer the questions raised and explaining that a conveyancing firm can give only generic comments on a mortgage offer.
(D) The solicitor should respond to the client's email by declining to answer any questions raised about their mortgage offer. The solicitor should explain that a conveyancing firm can only provide generic comments on a mortgage offer. According to financial services rules, solicitors are not allowed to give advice on specific financial products like mortgages and can only provide general advice.
Option (A) is not correct because it is prohibited to take such an action.
Option (B) is not correct because although a solicitor may suggest that the client takes independent financial advice, it would be a breach of the duty of confidentiality owed to the client if the solicitor forwarded the email without obtaining their client's consent first.
Option (C) is also not correct because the form may not provide the specific advice that the client is seeking.
Option (E) is not correct because although the firm cannot give specific advice, there is no reason to delete the client's query from the firm's records.