Margaret ReynoldsAdmitted 1979Application 7951/1999Hearing, 13 January 2000;reasons, 25 February 2000

The SDT imposed a penalties totalling 10,000 on the respondent, of 24 London Rd, Grays, Essex RM17 5XY, who had been employed as a solicitor and later had practised on her own account, for unbefitting conduct, in that (i) she had failed to disclose material information to a client; (ii) she had submitted a misleading report on title to a client; and (iii) she had been in breach of r.1(a), (c), (d) and (e) of the Solicitors Practice Rules 1988 in the conduct of a re-mortgage transaction.

The SDT recognised that, at the material time, the property market had been extremely buoyant, prices had been rising and lenders had been very keen to make loans on property.

The potential for mortgage fraud had not been in the forefront of the minds of conveyancing practitioners, however experienced.

It accepted that the respondent was a solicitor of honesty and integrity, was well regarded and that her accounts had been found to be in compliance with the accounts rules.

The SDT imposed a penalty of 5,000 in respect of each of allegations (i) and (ii); no additional penalty was imposed in respect of allegation (iii).

The level of the penalty reflected the seriousness of the respondent's shortcomings.

The respondent was ordered to pay 4,000 costs.