Adam & Company International Conveyancing Panel Recently Asked Questions from members of the public
Am I correct in assuming that the fact that my conveyancer is not identified on the Adam & Company International Conveyancing panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Adam & Company International.
My god-son is purchasing a house that has just been built with a home loan from Adam & Company International. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. 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 surveyor when asked.
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.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Adam & Company International conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Newcastle
so that I can attend their offices if required.
Most conveyancing panel lawyers for Adam & Company International undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
What happens if my solicitor is suspended from the Adam & Company International Conveyancing panel prior to the completion date?
First, 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 for a fee.
My existing mortgage is with Adam & Company International. My uncle has just retired and wants to pay off the mortgage left on the property. After Adam & Company International is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Adam & Company International conveyancing panel? I do not intend to live at the property once the Adam & Company International mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Adam & Company International panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I was told three weeks ago that my mortgage has been agreed
to by Adam & Company International. Is it usual for Adam & Company International to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Adam & Company International to deal with your lawyers application to be on the Adam & Company International conveyancing panel. There's no guarantee that your solicitors will be accepted.
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.
