FAQs for the Adam & Company Solicitor Panel from members of the public
We are purchasing a 1 bedroom apartment in London with a mortgage from Adam & Company. We would like to retain our lawyer but Adam & Company says she’s not on their "panel". We have to appoint 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Adam & Company
My fiance and I intend to remortgage our penthouse with Adam & Company. We have a son 18 who lives with us. The solicitor on the Adam & Company conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Adam & Company conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Adam & Company conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Adam & Company .This is solely used to protect the Adam & Company if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Adam & Company had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Whilst your website is a good idea there are many lawyers listed near Middlesbrough on the Adam & Company conveyancing panel. Can you recommend a specific firm on the Adam & Company approved panel?
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 grandmother passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Adam & Company , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Adam & Company will insist on your using a conveyancer on the Adam & Company conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Adam & Company conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Adam & Company mortgage is registered as a charge at the Land Registry.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Adam & Company conveyancing panel requirements are different to Adam & Company’s conveyancing panel criteria.
I am buying a property where the roof has a solar panel. Adam & Company have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is 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. The CML are developing guidance for Northern Ireland and Scotland.
I have instructed a lawyer having checked that they are on the Adam & Company conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that it is considered advisable to 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.
