374. Acting for lender and borrower.

The buyer's solicitor will often be instructed by the lender to act for the lender in connection with the grant of the mortgage. Similarly a seller's solicitor may be instructed by a lender in relation to the discharge of an existing mortgage when acting on a sale of the mortgaged property. Provided no conflict of interest exists or arises between the two clients, acting for both parties is permissible1.

It may be possible to act under the SRA Code of Conduct 2011 even where there is a conflict of interest provided the clients have a substantially common interest2 in relation