The Solicitors Regulation Authority estimates more than £21 million of claims have been made to its compensation fund so far. Amy-Jade Hughes, a mum-of-two, lost nearly £100,000 cash from the sale of her home due to PM Law's closure. She claims PM Law had not paid off her mortgage despite the sale of her home being legally completed and the purchase money received.
Ellie Vaughan and William Mann used PM Law for remortgaging their Coventry home when it suddenly closed without completing the transfer. According to Daily Mirror - News, Ellie Vaughan described being expected to pay over £2,000 a month for two active mortgages, which is not affordable. PM Law Ltd had 25 offices around the country, with offices in Yorkshire, Cumbria, Berkshire, Derbyshire, and London suddenly shutting on 2 February.
We're now stuck living at my parents' house with a toddler and a newborn. It's devastating, extremely stressful, and has turned what should have been a fresh start into an ongoing nightmare.
The closure left hundreds of people out of work and tens of thousands of cases affected. Amy-Jade Hughes was weeks away from starting a new life in Australia when the firm collapsed. She had started the visa process but the family had to put their plans on hold.
According to Daily Mirror - News, Amy-Jade Hughes described being stuck living at her parents' house with a toddler and a newborn, calling it devastating and stressful. She also noted they are still in limbo with the mortgage unredeemed and may need to pay for a new solicitor to retrieve files, adding unexpected costs and uncertainty. 5 million suspected fraud investigation or how many clients have been directly affected.
We're still in limbo, the mortgage still hasn't been redeemed, and nothing is actually resolved at this stage.
It remains unclear what actions are being taken to recover misused client funds, whether any criminal charges or arrests have been made, and what the timeline is for resolving claims through the compensation fund.
On top of that, we've now been told we may need to instruct and pay for a new solicitor just to retrieve our files and attempt to sort the mortgage repayment, and even then, there's no guarantee they'll be able to access everything or fix it quickly. It's another unexpected cost and another layer of uncertainty, all caused by something completely outside our control.
We're expected to pay over £2,000 a month, which obviously is just not affordable. It's worrying and it's concerning really that we're just stuck in the situation of two active mortgages on one