Adam & Company International Conveyancing Panel : Questions and Answers from members of the public
My IFA has says he needs my lawyer’ panel reference for the Adam & Company International conveyancing panel. What is the best way to discover this. I have e-mailed my local Adam & Company International branch but they don't know it.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Adam & Company International panel reference.
I am due to move into my new home next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Adam & Company International. What risks do Adam & Company International expect the insurance to cover?
Any lawyer on the Adam & Company International conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Adam & Company International’s Part 2 requirements of the CML Handbook (last updated on Adam & Company International). Being on the Adam & Company International conveyancing panel your lawyer is expect to follow these requirements.
I am planning to acquire a flat and need a conveyancing solicitor in Leeds who is on the Adam & Company International solicitor. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Adam & Company International . We don’t recommend any particular firm.
Please explain the implications if my solicitor is suspended from the Adam & Company International Solicitor panel before completion?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Adam & Company International conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Adam & Company International conveyancing panel requirements are different to Adam & Company International’s conveyancing panel criteria.
We were going to get a DIP from Adam & Company International this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Adam & Company International recommend a solicitor on the Adam & Company International conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Adam & Company International conveyancing panel. The solicitor represents both you and the Adam & Company International through the process.