Common questions asked concerning the Adam & Company International Solicitor Panel from members of the public
For what reasons could a firm of solicitors be excluded from the Adam & Company International solicitor 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 :
- Low volume 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
My grandson is buying a newly built flat with a home loan from Adam & Company International. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Adam & Company International conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Adam & Company International conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I require the services of a Adam & Company International panel solicitor in Belfast. Could you help me?
Unfortunately it’s not apparent why you need a Adam & Company International panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Adam & Company International to find out which solicitors in Adam & Company International are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I was scheduled to move into my first house two days ago. My lawyer’s firm is on the Adam & Company International solicitors panel but has changed address 8 weeks ago and had not informed Adam & Company International of their new address. Adam & Company International is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Adam & Company International branch or your mortgage broker to see if they can help.
Can I be sure that the solicitor on the Adam & Company International panel is any good?
obtaining recommendations is a sensible starting point. 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 advocate that you speak with the solicitor carrying out your transaction
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 you are obtaining a mortgage with 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.
Adam & Company International have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Adam & Company International or your broker and complete any relevant paperwork. Adam & Company International will tell you what documents they want. Adam & Company International will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Adam & Company International will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.