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approved by Adam & Co
Ready to buy a new home? Failing to check that a lawyer is on the Adam & Co list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Adam & Company Conveyancing Panel? How can my firm be reinstated onto the Adam & Company Conveyancing Panel?Find an Approved Solicitor on the Adam & Company Conveyancing Panel
Adam & Company Conveyancing Panel : Questions and Answers
On what basis would a law firm be excluded from the Adam & Company solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top 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 Adam & Company
Can you help?. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Adam & Company was issued random date and we have agreed a date for me to move into the property on Tues etc. My solicitor says that as she is on the Adam & Company conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
A precondition to being on the Adam & Company approved panel is to comply with the CML Handbook requirements (last updated for this lender on Adam & Company)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Adam & Company.
Your search tool is useful but there are many lawyers listed near Chelsea 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 are not in the business of recommending one firm above another 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..
I am thinking of refinancing my home does my lawyer need to be on the Adam & Company Solicitor panel?
There is nothing to stop you using your solicitor but Adam & Company will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Adam & Company conveyancing panel?
Some major lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
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?
Given that 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 currently have a mortgage with with Adam & Company. Conveyancing was finalised 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Adam & Company?
You must advise Adam & Company prior to letting out your property as this is likely to be a breach of Adam & Company’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Adam & Company directly. It should not be necessary to do this via a Adam & Company conveyancing panel solicitor.
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