Sub-prime cause for consideration

Claims against advisers in the wake of the sub-prime slump are likely to increase dramatically, so lenders should think hard about where they point the finger

There have been plenty of new words entering the public consciousness this year. In the wake of the Northern Rock crisis, the term that has jumped from jargon to general use is "sub-prime".

With rising interest rates, constricted housing supply and other gloomy economic developments, there is the prospect of a fresh wave of claims by the financial institutions against their professional advisers resulting from over-valuations, broker errors and poor legal advice.

Mortgage fraud has never really