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approved by Ecology BS
Ready to buy a new home? Failing to check that a lawyer is on the Ecology BS 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 Ecology Building Society Conveyancing Panel? How can my firm be reinstated onto the Ecology Building Society Conveyancing Panel?Find an Approved Solicitor on the Ecology Building Society Conveyancing Panel
Examples of recent questions relating to the Ecology Building Society Conveyancing Panel
I instructed a firm of solicitors to conduct the legal paperwork on my remortgage 5 weeks ago having applied for a mortgage with Ecology Building Society. The law firm confirmed to me that they are on Ecology Building Society conveyancing panel and provided me their panel number. Ecology Building Society then called me to say that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor listed on the conveyancing panel for Ecology Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Ecology Building Society as to how long they think it will take to get the firm to get back on the panel.
Can you help?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Ecology Building Society was dated random date and we have agreed a date for me to move into the property on 6. My lawyer has advised that as she is on the Ecology Building Society conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the Ecology Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Ecology Building Society)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 Ecology Building Society.
How up to date is your database of lawyers on the Ecology Building Society conveyancing panel? Do Ecology Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Ecology Building Society conveyancing panel as opposed to being supplied with a list from Ecology Building Society directly.
I am refinancing my home does my lawyer have to be on the Ecology Building Society Solicitor panel?
In theory, you could use a solicitor that is not on Ecology Building Society conveyancing panel, but Ecology Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I had instructed online conveyancers located in Birmingham who are on the Ecology Building Society solicitor panel. They are now charging me a separate fee of £135 for the legal aspects of the Ecology Building Society mortgage. Is this a supplemental conveyancing fee set by Ecology Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Ecology Building Society but by your lawyers. Some firms on the Ecology Building Society will charge an ‘acting for lender’ fee and others do not.
Do most 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 requirements.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Ecology Building Society are being pedantic. The solicitor who is on the Ecology Building Society conveyancing panel is recommending indemnity insurance as a solution 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.