Ecology Building Society Conveyancing Panel Recently Asked Questions
from members of the public
A lawyer I wanted to use for conveyancing on a purchase said she will levy higher legal fees if my mortgage is with Ecology Building Society due to their difficult processes! Will I regret using Ecology Building Society? Any comments will be appreciated
Ecology Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Ecology Building Society conveyancing panel. If they are not, this does add further risk of delay as Ecology Building Society will appoint their own solicitors to look after their interest.
I am buying a newly built apartment and my conveyancer is telling me that she has to disclose incentives from the developer as her firm is on the Ecology Building Society conveyancing panel. The Estate Agents are hassling me to exchange and my preference is not to delay matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Ecology Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ecology Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What tools are available to search for a local solicitor on the Ecology Building Society conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the conveyancer.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Ecology Building Society solicitor panel.
I am buying 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.
Do the majority of banks 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 Ecology Building Society conveyancing panel requirements are different to Ecology Building Society’s conveyancing panel criteria.
I have paid off my mortgage with Ecology Building Society. I assume I don't need a solicitor on the Ecology Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Ecology Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Ecology Building Society mortgage from the register. Ecology Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Ecology Building Society has sent the Land Registry the discharge electronically, and
the Ecology Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Ecology Building Society mortgage has been paid off.
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Ecology Building Society are being difficult. The solicitor who is on the Ecology Building Society conveyancing panel is saying indemnity insurance will be fine but Ecology Building Society are requiring 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.