Adam & Company International Solicitor Panel Sample Enquires to our Call Center
from members of the public
My husband and I are novices when it comes to buying a property. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Adam & Company International have this afternoon contacted us to advise us that there is now an issue as our conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your property lawyers should contact Adam & Company International and see if they can apply for membership of the Adam & Company International conveyancing panel, but if that is not viable Adam & Company International will instruct their own solicitors to act. You don't have to instruct a firm on the Adam & Company International conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Our lawyer has uncovered a defect with the lease for the flat we are buying. The other side have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the Adam & Company International conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Adam & Company International?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Adam & Company International are the client. A precondition to being on the Adam & Company International approved panel is to comply with the CML Handbook requirements (last updated for this lender on Adam & Company International). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Adam & Company International can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Adam & Company International conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am considering applying for a Adam & Company International mortgage for purchase of a new build (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Adam & Company International?
There is nothing to stop you using your solicitor but Adam & Company International will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Adam & Company International be concerned
As your lender is Adam & Company International your lawyer must to check the Adam & Company International conveyancing instructions contained in the Part of CML Handbook for Adam & Company International . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Adam & Company International where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I am currently in the process of buying my council flat. I have a mortgage offer with Adam & Company International. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Adam & Company International you will need to appoint a solicitor on the Adam & Company International conveyancing panel.
Completion of my purchase has taken place with a loan from Adam & Company International. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Adam & Company International. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the Adam & Company International branches or the Customer Services Department at Adam & Company International head office. We understand that complaints to Adam & Company International are sorted out effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.