Q and A’s regarding the Adam & Company Solicitor Panel from members of the public
My husband and I are hoping to buy a 2 bedroom apartment in Hackney with a mortgage from Adam & Company. We have a solicitor but Adam & Company says he's not on their "panel". It seems we have little choice but to instruct one of the Adam & Company panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Adam & Company conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Adam & Company
Please assist. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Adam & Company was dated random date and we have agreed a date for me to move into the property on 6. My lawyer has advised that as she is on the Adam & Company conveyancing panel she needs to redo the searches as they are no longer valid.
A precondition to being on the Adam & Company approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Adam & Company)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.
Whilst your website is a good idea there are many lawyers listed near Newcastle on the Adam & Company conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Adam & Company ?
We do not recommend specific firms 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My lawyers in Liverpool have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Adam & Company. Is it case that being on the Adam & Company conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Adam & Company Conveyancing Panel Terms. It might be worth you contacting Adam & Company directly.
Is it the case that all conveyancing lawyers on the Adam & Company conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Adam & Company be concerned
As you are obtaining a mortgage with Adam & Company your lawyer must to check the Adam & Company conveyancing instructions contained in the Part of CML Handbook for Adam & Company . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Adam & Company where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I have instructed a lawyer having made sure that they are on the Adam & Company conveyancing panel. Does my lawyer arrange the survey of the property?
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Having digested plenty of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Adam & Company conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Adam & Company will need an independent valuation of the property. Your lawyer will not arrange this. Usually Adam & Company will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Adam & Company you could contact your them to see if they have a list of approved surveyors.