FAQs for the Adam & Company International Solicitor Panel from members of the public
For what reasons could a firm of solicitors be removed from the Adam & Company International approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Adam & Company International
Can you clarify something for me?. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Adam & Company International was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor has advised that as she is on the Adam & Company International conveyancing panel she needs to reorder the searches as they are no longer valid.
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)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Adam & Company International.
Your search tool is useful but there are many lawyers listed near Leeds on the Adam & Company International conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Adam & Company International ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am selling my house. Does my solicitor have to be on the Adam & Company International conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Adam & Company International conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Can I be sure that the solicitor on the Adam & Company International panel is any good?
seeking recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction
In what circumstances might Adam & Company International amend or withdraw their mortgage offer?
Lenders such as Adam & Company International can revoke their mortgage offer although this is unusual. If Adam & Company International withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
- Where to proceed with the Mortgage offer would be unlawful
- Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the sale is not at arms length for value to unconnected persons
- Where the Lender’s right to possession is fettered in some way
- If the solicitor on the Adam & Company International conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Adam & Company International ‘s instructions
I have today made my last payment due on mortgage with Adam & Company International. I assume I don't need a solicitor on the Adam & Company International panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Adam & Company International mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Adam & Company International mortgage from the register. Adam & Company International,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Adam & Company International has sent the Land Registry the discharge electronically, and
the Adam & Company International has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Adam & Company International mortgage has been paid off.