Examples of recent questions relating to the Ecology Building Society Solicitor Panel
from members of the public
For what reasons would a law firm be excluded from the Ecology Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed 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 Ecology Building Society
Our conveyancer has uncovered a defect with the lease for the property we are purchasing. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the Ecology Building Society conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Ecology Building Society?
Just because you have a mortgage offer from Ecology Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Ecology Building Society are the client. The appropriate lender requirements have to be complied with by the Ecology Building Society conveyancing panel who has to balance acting for you and Ecology Building Society
I note that you have a search directory identifying firms on the Ecology Building Society conveyancing panel. Do firms pay you a referral fee if I retain them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Ecology Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am purchasing a new build flat and getting a mortgage with Ecology Building Society. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Ecology Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Ecology Building Society conveyancing panel in your location.
We have a mortgage agreed in principle with Ecology Building Society. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Ecology Building Society?
There is no definitive answer here. Have Ecology Building Society conducted the survey? Have you advised Ecology Building Society as your lawyers details and checked that your lawyer is on the Ecology Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
Completion of my remortgage has taken place with a loan from Ecology Building Society. Conveyancing was satisfactory but I would like to complain about Ecology Building Society. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the Ecology Building Society branches or the Customer Services Department at Ecology Building Society head office. We understand that complaints to Ecology Building Society are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
I am due to exchange contracts on my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Ecology Building Society are being a right pain. The solicitor who is on the Ecology Building Society conveyancing panel is saying indemnity insurance will be fine but Ecology Building Society are insisting on a building regulation certificate. Why do Ecology Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Ecology Building Society have referred the matter to their valuer. The reason why Ecology Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.