Skip to main content

This article contains a reminder regarding common causes for claims in relation to mortgages.

Failing to put in place proper security for lender clients was one of the most costly mistakes in our mortgage claims in the last policy year (2017/18) where the total mortgage related claims accounted for 19 per cent of the cost of all claims.

We have recently updated our Keep managing mortgage risk practice risk guide which contains claims examples and risk management strategies to avoid these mistakes. It also covers other important risk issues in mortgage matters including:

  • providing solicitor certificates and Amadio claims
  • clients wanting to enter into improvident transactions or transactions with family members
  • mortgage fraud
  • advising on equity release products.

Checklists to help you advise on equity release products and avoid Amadio claims are also included. If you advise lenders, borrowers or guarantees, the practice risk guide is an essential resource.

More on Securities

All Resources
Client Resources

Parent to child property loans: Things to consider - Client Brochure

Conveyancing, Will Making, Mortgages, Client resources 16 Oct 24

This brochure is provided by LPLC as a template for lawyers to use for client information purposes. The brochure outlines what your clients should consider when they are planning to provide financial assistance to their child for the purpose of buying a home. Firms can use the sample brochure as it is, or use the word version to tailor the wording to suit their needs or create their own branded brochure.

Learn more
LPLC Articles

Say no to solicitor certificates in institutional liability cases

Professional Responsibility, Solicitors Certificates, Personal Injury 13 Sep 24

In historic institutional child abuse claims, we are continuing to see requests by some defendants for plaintiff’s solicitors to provide an independent solicitor certificate on settlement of the plaintiff’s claim. The certificates typically contain statements to the effect that the solicitor acting for the plaintiff has explained to the plaintiff the purport and effect of the settlement deed, the plaintiff appeared to have understood that advice, and that the deed was signed voluntarily.

Learn more
Checklists

Personal Property Securities – practice management

Personal Properties Securities, Personal Properties Securities 15 Jul 24

LPLC has created this Key Risk Checklist for practitioners dealing with Personal Property Securities matters. It covers practice management basics that will help you develop your approach.

Learn more
All Resources

Latest News & Alerts

All News & Alerts
News

LPLC Annual Report 2023-2024

31 Oct 24

The LPLC Annual Report for 2023–2024 was tabled in the Victorian Parliament on 31 October 2024.

Learn more
Alert

Vacant Residential Land Tax—Changes to ‘Holiday Home’ Exemption

Tax 17 May 24

The Victorian Government has introduced the State Tax Amendment Bill 2024 which, amongst other taxation changes, will (if passed) broaden the holiday home exemption to allow shareholders of companies, as well as certain beneficiaries of trusts and relatives of those shareholders and beneficiaries, to satisfy the exemption for a property owned by a company or trust.

Learn more
Alert

Snapshot of Major Victorian Property Tax Changes effective from 1 January 2024

Conveyancing, Tax, GST, Leases, Building and Construction, Building and Construction 13 Dec 23

The State Taxation Acts and Other Acts Amendment Act 2023 received Royal Assent on 12 December 2023. The new law introduces significant property tax changes in Victoria with effect from 1 January 2024.

Learn more
All News & Alerts
TOP