Adviser Denies Failing Customer In £1.7M Remortgage Suit

Law360, London (February 7, 2020, 4:59 PM GMT) -- A financial adviser argued it didn't breach its responsibilities to a customer when it backed an allegedly illegal broker’s remortgage of her £1.7 million ($2.2 million) property, saying the borrower knew she'd have to sell to pay back the loan.

Michael Graham Financial Services said that its advice to Nymphia Dorothy Cruickshank to take out a mortgage product with Masthaven Bank was solid and took into account her circumstances. Cruickshank is suing the company in the High Court for advice given by Nigel Allen in early 2016 when she was looking to remortgage her residential property in Virginia Waters, a southeastern...

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