FAQs for the Ecology Building Society Conveyancing Panel from members of the public
On what basis could a firm of solicitors be removed from the Ecology Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :
- lack 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
I do hope you can help me. My solicitor is advising me that he is legally obliged to order a Local Authority search as the firm are on the Ecology Building Society approved lawyer panel. Do I not have a choice here?
You have limited options available to you. As you are taking a mortgage with Ecology Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Ecology Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Ecology Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
How do I find 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 lawyer.
You can use the find a conveyancing panel tool 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.
My aunt passed away last year and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Ecology Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Ecology Building Society will insist on your using a conveyancer on the Ecology Building Society 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 Ecology Building Society 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 Ecology Building Society mortgage is registered as a charge at the Land Registry.
Do conveyancing solicitors on the Ecology Building Society conveyancing panel work on a no move no charge basis?
On the whole there are 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
I am currently in the process of buying my council flat. I have a mortgage agreed with Ecology Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Ecology Building Society you will need to appoint a solicitor on the Ecology Building Society conveyancing panel.
I can not work out if my mortgage offer requires a lease extension . I have called Ecology Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Ecology Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Ecology Building Society panel she or he must comply with the CML Handbook requirements for Ecology Building Society. Unless your lawyer obtains specific confirmation in writing that Ecology Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Ecology Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.