BBC News | 'Horrendous' stress for couple forced to pay monthly mortgage twice after law firm collapse
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A couple in Barry, Vale of Glamorgan, were forced to pay their mortgage twice after the solicitor firm they used for a remortgage, PM Property Law, collapsed in early February. The firm had told them the transfer of their mortgage from Halifax to Nationwide was completed, but the money never moved, leaving both lenders with active accounts and resulting in duplicate £2,000 monthly payments. To avoid repossession they borrowed £6,000 from family and friends while the Solicitors Regulation Authority and South Yorkshire Police launched investigations into the suspected fraud involving roughly £40 million of client funds at PM Law Group. Halifax later refunded the extra payments and offered additional compensation; Nationwide also acknowledged the issue. The case highlights the widespread disruption caused by the abrupt closure of PM Law, which affected tens of thousands of customers nationwide.
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