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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
Examples of recent questions relating to the Adam & Company Conveyancing Panel
I am in the process of selling my apartment and the estate agent has just telephoned to warn that the buyers are swapping conveyancer. The excuse is that Adam & Company will only work with solicitors on their conveyancing panel. On what basis would a major lender only engage with certain solicitors?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
can you help? My lawyer is informing me me that he has to apply for a Local Authority search because the firm are on the Adam & Company conveyancing panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Adam & Company 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 Adam & Company’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Adam & Company. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Adam & Company conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Adam & Company conveyancing panel as opposed to being supplied with a list from Adam & Company directly.
I am considering applying for a Adam & Company mortgage for purchase of a newly converted (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Adam & Company?
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 an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Adam & Company do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is it common for Adam & Company to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Adam & Company can withdraw their mortgage offer although this rarely happens. should Adam & Company withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- Where to proceed with the Mortgage offer would be unlawful
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
- If the solicitor on the Adam & Company conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Adam & Company ‘s instructions
We have had an offer accepted on a house I spoke to a lawyer recommended by my dad and he recommended retaining a property lawyers approved by Adam & Company. The estate agent recommended two local firms so I asked Adam & Company if the 2 suggested solicitors are approved, which they are not. Adam & Company suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Adam & Company 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Adam & Company for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Adam & Company conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Adam & Company conveyancing panel as it may only take about 2-3 weeks. As long as they meet Adam & Company’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
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