Adam & Company International Conveyancing Panel Sample Enquires to our Call Center from members of the public
I am progressing with the sale of my maisonette and the estate agent has just called to say that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that Adam & Company International will only work with solicitors on their approved list. On what basis would a big named lender only work with certain solicitors?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are only a couple days away from an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Adam & Company International. I am advised that, being on the Adam & Company International conveyancing panel and acting on their behalf he must inform Adam & Company International if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Adam & Company International to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Adam & Company International if you agree, failing which, your lawyer must cease to continue acting.
Is it necessary during the course of the conveyancing process to pop into 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 London
so that I can pop in to their offices if necessary.
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.
I was supposed to move into my flat yesterday. My solicitor is on the Adam & Company International conveyancing panel but has changed address in the past couple of months and had not advised Adam & Company International of their new address. Adam & Company International is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of 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 assist.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Adam & Company International conveyancing panel?
Some major banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
My husband and I are in the process of looking at apartments and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Adam & Company International
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Adam & Company International , ask your prospective lawyers check they are on the Adam & Company International conveyancing panel otherwise they can't do the mortgage legal work.
We are are acquiring a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon will soon beretained. My fathersuggested that we double-check that the conveyancer in Hendon is on the Adam & Company International panel. Is this really necessary?
It is not that case that all Hendon conveyancing solicitors are on the Adam & Company International conveyancing panel. Use the above search tool to find a Hendon conveyancing practitioner on the on the Adam & Company International approved list of lawyers.
